casino gambling

RIPR File

Newport residents may soon say farewell casino gaming, and to the large red ‘SLOTS’ sign that hangs on the side of Newport Grand. Twin River has finalized the purchase of the Newport gaming facility.

A spokesperson for Twin River, Patti Doyle, says the casino plans to transfer Newport’s gaming license to Tiverton.

"We’re spending the summer into the early fall, holding small community neighborhood meetings so we can best understand what the neighbors and residents of Tiverton would like to see in a potential casino in their community," said Doyle.

Providence Business News Editor Mark Murphy joins Rhode Island Public Radio's Dave Fallon for our weekly business segment The Bottom Line. 

This week Dave and Mark get the latest from Plainridge Park Casino General Manager Lance George, who says the video slots parlor will be ready to open its doors in June.

When to listen

You can hear The Bottom Line each Friday at 5:50pm.

Do you have insight or expertise on this topic? Please email us, we'd like to hear from you. news@ripr.org  

 

RIPR FILE

The House Finance Committee is slated to vote Tuesday on a bill that would clear the path for a hotel to be built at Twin River in Lincoln. The casino was banned from building a hotel as part of a law passed in 2005.

Twin River says a hotel will help it compete, as the casino faces growing competition from new gambling facilities in Massachusetts and Connecticut. Gambling is Rhode Island’s third-largest source of state revenue, and out of state casinos could cut the Ocean State’s annual revenue by up to $100 million.

Providence Business News Editor Mark Murphy joins Rhode Island Public Radio's Dave Fallon for our weekly business segment The Bottom Line.

This week, Dave and Mark talk with twin river worldwide holdings chairman John E. Taylor Jr. They discuss Twin River's proposal to build a four story hotel at its Lincoln, Rhode Island casino.  They're taking the proposal to Lincoln residents and the local business community for feedback.

When to Listen: You can hear The Bottom Line each Friday at 5:50pm.

RIPR FILE

Developer Joe Paolino has made a deal to buy Newport Grand slot parlor.  Paolino says there are still a few a details to be worked out.

Newport Grand produces far less revenue for the state than Twin River in Lincoln. Yet it remains part of Rhode Island’s third-largest revenue stream. Paolino said he thinks Newport Grand offers a great opportunity.

He would not say how much he's paying for the slot parlor, or whether he had partners in the venture. He says a confidentiality agreement limits him from saying more.

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