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.
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.
House Speaker Nicholas Mattiello is poised next month to win his first full two-year term to what is considered the most powerful post in state government. The Cranston Democrat won a battle for the speakership last March following the resignation of his predecessor, Gordon Fox. Mattiello sat down in his Statehouse office this week to discuss his priorities for 2015 and a host of other issues.