The Massachusetts Gaming Commission voted Friday to green-light a slot parlor in nearby Plainville, Massachusetts -- a scenario that would threaten to siphon customers from Rhode Island's most lucrative gambling entity, the Twin River casino in Lincoln.
In an interview, John E. Taylor Jr., Twin River's chairman and CEO, says he expects the slot parlor would cut Twin River's $290 million in annual revenue for the state by about 10 percent.
Plans for a slot parlor in nearby Plainville, Massachusetts, have received their final approval.
On Friday, the Massachusetts Gaming Commission voted to green-light Penn National Gaming's plan for the Plainville slot parlor.
Plainville is just a little bit north of Attleboro, so a slot parlor there would compete for customers with Twin River in Lincoln. That’s a concern for Rhode Island, since gambling is the state’s third-largest source of revenue.
The Rhode Island Supreme Court has upheld a Superior Court finding that the Narragansett Indian tribe has standing to sue the state over the addition of table games at Twin River and Newport Grand. Yet it remains unclear if the tribe's suit will move forward.
Under state law, the Narragansett tribe gets about one fifth of one percent of all net revenue from video lottery terminals at Twin River in Lincoln. That’s up to a maximum of $10 million a year.
General Treasurer Gina Raimondo joins Political Roundtable this week to discuss 2014; the health of the state pension plan; her views on boosting Rhode Island's economy; and whether adding table games is the best way for the state to protect one of its largest revenue sources.
(PROVIDENCE, RI) Once again, it was a busy year in the Ocean State, and Rhode Island Public Radio’s counting down the top ten news stories of 2012. At number 2 is the split vote to expand gambling at one video slot parlor, but not at another.
In November, Rhode Islanders voted to expand gambling to include casino-style games at Twin River. The vote received overwhelming support in Twin River’s host community of Lincoln.
Almost 48,000 winning Powerball tickets were sold in Rhode Island, although most were for the princely prize of $4, according to the state Lottery. Take away the $2 per-ticket cost, and the net gain for the vast bulk of winners was $2.
That’s a far cry from $587.5 million jackpot that sparked fevered dreams across the land of striking it rich. (Two winning jackpot tickets were sold, one each in Arizona and Missouri.)