Tue November 9, 2010
Twin River emerges from bankruptcy
By MEGAN HALL
Providence, RI – After 17 months, the Twin River slot parlor in Lincoln has finally emerged from bankruptcy. The Rhode Island Division of Lotteries made the transition official when it approved a change of ownership for the slot parlor. Spokeswoman Patti Doyle says this is a great day for the company
"You know, not every bankruptcy ends in success," Doyle says, "and this one, all be it 17 months later, is really a success. It means that all of our creditors will get paid, it means that our focus can shift from emerging from bankruptcy to just fully focused on the property."
Twin River is now owned by a conglomeration of about 40 financial institutions that have assumed its debt.
John Taylor, a Rhode Island native and former Gtech executive, will serve as chair of a three member board of directors overseeing Twin River's operations.
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