Slot Revenues Fall Short in Rhode Island

PROVIDENCE, Rhode Island - as reported by the Providence Journal: "Slot and other lottery revenues are falling short, and officials say high fuel prices may be to blame.

 "The state's budget calls for slot revenues to grow 15.3 percent this year, but Rhode Island Lottery data show only 4.2 percent growth since the fiscal year started on July 1.

"Slot revenues so far are $5.7 million less than expected, and proceeds from other lottery games are down $1.6 million, House Fiscal Adviser Michael O'Keefe said.

"Gambling officials blamed at least part of the shortfall on high gas and oil prices. People are trying to save money elsewhere, they said.

"...For years, slot machines at Lincoln Park and Newport Grand have seen double-digit growth. But now -- while the machines are still extremely profitable -- they are not producing the same boom, and that could have grave ramifications for the state.

"...Lincoln Park is adding 600 more slot machines today. The track will now have 3,602 slots and expects to add 1,150 more.

"...O'Keefe said that expansion and other improvements could result in a good year for slot revenues."