Mon January 27, 2014
Fall River and Foxwoods to announce casino plan tomorrow
In what would be a serious threat to Rhode Island’s state gambling revenue stream, Fall River is eyeing yet another attempt to enter the casino market.
Mayor William Flanagan has scheduled an announcement for Tuesday on a deal for a $750 million casino in the seen-better-days onetime textile center in southeastern Massachusetts that practically straddles the R.I. border, according to several Massachusetts media outlets, including WBUR.
Partnering with Fall River would be Foxwoods, the Connecticut-based tribal gambling empire.
Foxwoods tried unsuccessfully to build a casino in nearby Milford, but voters there rejected the plan. Yet down on its heels Fall River would be more likely to approve a casino and the jobs it would bring to an area of chronic high unemployment.
Gambling revenues from the slot machine parlor in Newport at Newport Grand and from the casino at Twin River in Lincoln harvest about $300 million annually for the R.I. state budget. A casino in Fall River, which is close to both Twin River and Newport, would bring vigorous competition for both of Rhode Island’s legal gambling venues.