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Rhode Island General Laws Title 42. State Affairs and Government § 42-61.2-5. Allocation of sports-wagering and online sports-wagering revenue

Current as of January 01, 2024 | Updated by Findlaw Staff

(a) Notwithstanding the provisions of § 42-61-15, the division of lottery is authorized to enter into an agreement to allocate sports-wagering revenue derived from sports wagering and online sports wagering at the hosting facilities between the state, the state's authorized sports-wagering vendor, and the host facilities. The allocation of sports-wagering revenue and online sports-wagering revenue shall be:

(1) To the state, fifty-one percent (51%) of sports-wagering revenue and online sports-wagering revenue;

(2) To the state's authorized sports-wagering vendor, thirty-two percent (32%) of sports-wagering revenue and online sports-wagering revenue; and

(3) To the host facilities, seventeen percent (17%) of sports-wagering revenue and online sports-wagering revenue.

(b) Sports-wagering revenue and online sports-wagering revenue allocated to the state shall be deposited into the state lottery fund for administrative purposes and then the balance remaining into the general fund.

(c) The town of Lincoln shall be paid an annual flat fee of two hundred thousand dollars ($200,000) and the town of Tiverton shall be paid an annual flat fee of two hundred thousand dollars ($200,000) in compensation for serving as the host communities for sports wagering.

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Cite this article: FindLaw.com - Rhode Island General Laws Title 42. State Affairs and Government § 42-61.2-5. Allocation of sports-wagering and online sports-wagering revenue - last updated January 01, 2024 | https://codes.findlaw.com/ri/title-42-state-affairs-and-government/ri-gen-laws-sect-42-61-2-5/

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