Rhode Island expects to pocket six-and-a-half million dollars just from table games in the next fiscal year.
Fred Carstensen is an economist at the University of Connecticut who has been studying casino gambling in that state. He said as casinos open in Massachusetts, Rhode Island should expect to get a smaller piece of the casino pie.
"It’s not a bottomless pit, you’re shifting money away from other activities and frankly it doesn’t really create value," said Cartensen.
Casino gambling just like in Las Vegas is scheduled to begin Wednesday at Twin River in Lincoln.
The one-time dog track has become the first venue ever in Rhode Island to offer table games thanks to voters, who approved the change to stave off competition from new casinos proposed for Massachusetts.
Gambling is a major part of the state budget, and to better understand how games like blackjack and roulette will affect the budget, Rhode Island Public Radio's Elisabeth Harrison sat down with Paul Dion from the State Department of Revenue.
There’s an old chestnut in banking: If you owe the bank $10,000, the bank owns you. If you owe the bank $100 million, you own the bank.
That’s pretty much what has happened in Rhode Island state government’s quest to regulate the state-sponsored gambling emporiums at Newport Grand and at Twin River (aka Twin Rivahs in Vo Dilundese) in Lincoln.
If you know somebody in need of a job, you might want to steer them to Twin River. The slot parlor is going to full casino gambling this summer and Twin River spokeswoman Patti Doyle says they’re still looking to hire at least 300 workers, mostly dealers. She describes the qualities they’re looking for.
The Newport Grand slot machine parlor lost its attempt to expand with Las Vegas-style table games in last November’s election. Now Newport Grand is seeking a break from state gaming taxes while the gambling emporium decides its next move.
Under legislation introduced in the Rhode Island General Assembly, Newport Grand is looking to decrease the share of gambling revenues it send to the state by about $3 million over the next two years, according to Diane Hurley, owner of Newport Grand.
(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.