PROVIDENCE, R.I. (WPRI) – Gov. Gina Raimondo is slated Tuesday to go before the Rhode Island House Finance Committee to answer questions about a proposed contract extension she’s pushing for IGT, the Providence-based gaming technology company.
The current contract with IGT, formerly known as GTECH, was scheduled to expire in 2023. However, Raimondo announced a 20-year contract extension to keep IGT through 2043.
Gov. Raimondo told Eyewitness News she was warned in 2018 that if IGT left Rhode Island, at least 1,100 jobs would be lost.
As part of the contract proposal, IGT would be required to employ at least 1,100 employees in Rhode Island and pay $25 million upfront. In exchange, the gaming company would receive a cut of gaming activity worth roughly $50 million a year.
Twin River Worldwide Holdings – which operates the state’s two casinos in Lincoln and Tiverton – has been pushing back on what it’s called a no-bid deal – arguing IGT games are inefficient, costing Rhode Island taxpayers revenue that would be generated by more popular games.
The hearing is scheduled at 3:30 p.m.