Some good news for Rhode Island’s state budget: income and sales tax receipts are up over last year’s totals.
That’s the report from the state Department of Revenue comparing state revenues through October with the same period last year. Income tax collections are 3 percent about last year and sales levies are up 4.3 percent, according to data released today.
On a more sober note, state gambling tax collections are down 1.3 percent from the same period last year.
The rising number of casinos in New England that’s hurting the Foxwoods Resort Casino is both a threat to table games in Rhode Island and the reason to add more.
Analyst Clyde Barrow said the Foxwoods Resort and Casino in Connecticut has been losing millions of dollars since its peak in 2006. To blame: a slow economic recovery and a growing number of casinos in New England.
Former Providence Mayor Joseph Paolino has been a stalwart booster of Buddy Cianci’s redemption tour. But now that Cianci has filed for election for Providence mayor and Charles Mansolillo has been appointed Cianci’s campaign manager, Paolino is turning his political attention to Newport, where he is part of a group that wants to buy and improve the Newport Grand gambling emporium.
(Rhode Island being Rhode Island, Paolino and Mansolillo are well-acquainted; the two ran against each other for mayor in 1986 in a campaign won comfortably by Paolino).