The operator of Twin River is buying Newport Grand while vowing not to seek the addition of table games at Newport "without broad-based community support."
"For the time being, I think it's safe to say it's pretty much business as usual from a Newport Grand perspective, but with the added benefit of having Twin River as a sister property," John E. Taylor Jr., board chairman of Twin River Worldwide Holdings, the parent of Twin River and Twin River Management Group, said in a telephone interview.
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, real estate owner and former mayor Joseph R. Paolino Jr. joins Political Roundtable to discuss his contingent agreement to buy Newport Grand; the pending exit of Education Commissioner Deborah Gist; and Governor Gina Raimondo's moves to remake the I-195 Redevelopment District Commission.
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.