Cook the rice in water according to packaged directions. Usually this will take about 20 minutes.
Combine the cooked rice, milk, sugar, and salt in a saucepan over medium heat. Cook the combination, stirring often, for about 15 minutes or until thickened.
Once thickened, stir in the beaten egg, raisins, salted butter, and ground cinnamon. Continue to cook over medium heat for 3 minutes, stirring constantly.
Remove from heat and stir in the vanilla extract and heavy cream. You can serve this immediately for a warm treat or allow it to cool slightly, then store in a sealable container in the refrigerator.