Paolino

Providence Business News Editor Mark Murphy joins Rhode Island Public Radio's Dave Fallon for a weekly business segment The Bottom Line.

This week Dave and Mark talk Joe Paolino about plans he and his partners have to revamp Newport Grand. The idea is to turn the struggling slot parlor into an entertainment complex that offers table games, but that all hinges on residents approving the move at the polls.

When to Listen

You can hear The Bottom Line each Friday at 5:50pm.

Developer Joe Paolino and two partners have signed an agreement to buy Newport Grand.

Paolino isn’t ready to say how much he’s paying for Newport Grand, but said he and his partners are ready to bring table games to Newport and sink $40 million to upgrade the struggling slot parlor.

file / RIPR

Former Providence Mayor Joseph Paolino said he and some partners are interested in buying Newport Grand. Paolino said the struggling slot parlor needs to be saved before table games come to Massachusetts.

Paolino said he and his two partners have been talking with owners of Newport Grand since last summer. Since then Foxwoods has been looking at building a casino in Fall River, and Paolino sees that as a dire threat.

Providence Business News Editor Mark Murphy joins Rhode Island Public Radio's Dave Fallon for a weekly business segment we're calling The Bottom Line. Each Friday they look at business news and themes that affect local business and the public.