The ongoing spat between Twin River Worldwide Holdings, Inc. (NYSE:TRWH) and International Game Technology Plc (NYSE:IGT) regarding the latter’s dominance in Rhode Island’s gaming machine market has a new participant: Scientific Games Corp. (NASDAQ: SGMS).
Scientific Games, one of IGT’s primary rivals, is reportedly in talks with Twin River, the operator of Rhode Island’s two casinos, to bid for Ocean State business. …
Earlier this week, two SG lobbyists met with Rhode Island House Speaker Nicholas Mattiello (D-RI). Mattiello has previously expressed dismay with Raimondo’s dealings with IGT, while questioning whether the governor’s proposal could hold up to legislative scrutiny.
Gambling is big business and, thanks to the government’s having claimed a monopoly, that business operates in a restrictive market that doesn’t spread out leverage very well. Now that gambling isn’t restricted to lotteries, bingos, and isolated casino districts, the number of players will grow, but they’ll still be big, making every policy change highly political.