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.
Jorge Elorza this afternoon will be inaugurated Providence’s mayor. RIPR political analyst Scott MacKay parses the challenges the new mayor faces.
After impressive primary and general election victories, law professor Elorza takes over the spacious second-floor office in the capital city’s Beaux-Arts City Hall. Since his election he has wisely reached out to the city’s warring political and ethnic tribes as he prepares to govern a 21st Century ancient New England port that had its beginnings in the 17th Century.
Developer Joe Paolino says he’ll try again to bring table games to Newport. Voters approved turn the Newport Grand slot parlor into a casino, but Newporters voted it down.
Massachusetts voters gave gambling there a thumbs up. And that will hurt the slot parlor, said Paolino “You know right now I’m more concerned about the workers, because the workers are the ones that really put up this fight, they’re very concerned about their jobs.”
Proponents pushed the jobs angle; while opponents said a casino didn’t fit in Newport.
Newport residents defeated the expansion of table games like poker and blackjack at Newport Grand slot parlor two years ago. But because casinos with table games are likely coming to southern Massachusetts, the issue is back on the ballot.
This time however, a team of developers want to buy Newport Grand, and they have a plan to sweeten the pot, hoping to get approval. As part of our Rhody Votes coverage Rhode Island Public Radio’s John Bender explains how the issue is dividing residents in this historic city by the sea.
All this week we’re taking a close look at the Narragansett Bay, for a series we call One Square Mile. Today we look at the heavy industry that relies on the Providence waterfront. Specifically, where those big piles of coal, scrap metal and salt, sit along the Providence River.
Tuesday, independent Providence mayoral candidate Vincent “Buddy” Cianci, Jr. details his plan to turn the industrial waterfront to mixed use development, with things like hotels and marinas. As Rhode Island Public Radio’s John Bender reports, that's been the subject of a decades-long battle.
Providence Business News Editor Mark Murphy joins Rhode Island Public Radio's Dave Fallon for a weekly business segment The Bottom Line.
This week Dave and Mark talk Joe Paolino about plans he and his partners have to revamp Newport Grand. The idea is to turn the struggling slot parlor into an entertainment complex that offers table games, but that all hinges on residents approving the move at the polls.
When to Listen
You can hear The Bottom Line each Friday at 5:50pm.
Former Providence Mayor Joseph Paolino said he and some partners are interested in buying Newport Grand. Paolino said the struggling slot parlor needs to be saved before table games come to Massachusetts.
Paolino said he and his two partners have been talking with owners of Newport Grand since last summer. Since then Foxwoods has been looking at building a casino in Fall River, and Paolino sees that as a dire threat.
Providence Business News Editor Mark Murphy joins Rhode Island Public Radio's Dave Fallon for a weekly business segment we're calling The Bottom Line. Each Friday they look at business news and themes that affect local business and the public.
Former Providence mayor Joseph R. Paolino Jr. sat down at his Dorrance Street real estate office earlier this week to talk about his recent property acquisitions; downtown Providence; the city's economic challenges; the Superman Building; a possible mayoral run by Buddy Cianci; and the future of the Providence Journal.
Former Providence mayor Joseph R. Paolino Jr., who was part of a group that tried to buy WLNE-TV (Channel 6) in 2011, is keeping his cards close to his vest on whether he's looking at being part of an effort to acquire the Providence Journal.