Governor, Speaker, Senate President Announce Agreement for Continued Partnership with IGT
Deal includes $150m in new investment, increase in RI-based jobs
PROVIDENCE, RI- Governor Gina M. Raimondo, House Speaker Nicholas A. Mattiello and Senate President Dominick J. Ruggerio today announced an agreement in principle with IGT for a continued partnership with the Rhode Island Lottery. Under the terms of the agreement, IGT will be responsible for a $25 million payment to the State, $150 million in capital investments over the next 20 years, and at least 1,100 permanent jobs in Rhode Island. IGT’s Rhode Island employees have an average annual salary of $100,000.
“Rhode Island’s partnership with IGT over the past two decades has led to the creation of a thousand local jobs and hundreds of millions in economic activity,” said Governor Raimondo . “Today’s announcement ensures the company can continue to grow and thrive in our state while providing Rhode Islanders with some of the highest-quality games anywhere in the country. This innovative agreement keeps Rhode Island – and Rhode Island’s jobs – at the center of this modern and evolving industry.”
“IGT is one of Rhode Island’s most valued corporate partners, and I want them to continue to call Rhode Island home for decades to come,” said Speaker Mattiello . “This new agreement increases the company’s investment and guarantees great jobs stay in our state. I am committed to a full public vetting of this proposal and the House will hold hearings in the fall.”
“I am grateful to Governor Raimondo for her work to keep IGT headquartered in Rhode Island,” saidSenate President Ruggerio . “IGT is a major Rhode Island employer, with about 1,000 jobs averaging $100,000 in salary presently, and the number of Rhode Island jobs is anticipated to increase under this proposal. Since it is close to the end of the regular legislative session, I intend to introduce the legislation today so it is available for public inspection over the next few months, then return for a special session in the fall to thoroughly review and analyze the bill through the committee process before it is considered.”
Additional provisions of the agreement include:
- Anytime IGT plans to create at least 30 U.S.-based jobs or transfer as many employees, where not contractually obligated to another state, the company agrees to give Rhode Island the right of first offer to make a proposal for IGT to locate those jobs in Rhode Island.
- IGT will maintain its corporate lottery office at 10 Memorial Boulevard in Downtown Providence.
- IGT will install a new, state-of-the-art online lottery solution and will bring its iLottery products to Rhode Island.
- IGT will regularly update its hardware and software to ensure Rhode Island Lottery consistently has state-of-the-art technology. Rhode Island Lottery will also have contractual rights to new technology developed by IGT in the future.
- IGT will replace more than 900 VLTs with brand new machines at Twin River Lincoln (25% of IGT’s machines) by the end of 2020 and will be obligated to replace at least the lowest performing 6% of machines at Twin River Lincoln and Twin River Tiverton every year.
- Instant ticket pricing will be locked in at its current rate through the life of the new contract.
The General Assembly leaders will be introducing legislation this afternoon to codify this agreement into state law. Hearings on the legislation will be held later this year.