GOVERNMENT

Chafee approves casino legislation

COURTESY TWIN RIVER
GOV. LINCOLN D. CHAFEE approved legislation saying the state would receive 18 percent of revenue from proposed table games at Twin River Casino if voters this November approve allowing the facility to open them there.
Posted 6/20/12

PROVIDENCE – On Wednesday, Gov. Lincoln D. Chafee signed into law legislation that would give the state 18 percent of revenue from proposed table games at Twin River Casino and Newport Grand if voters approve the measure this November.

Twin River, in Lincoln, has said that would amount to around $10.8 million annually if the slot parlor is allowed to add its desired 65 table games.

The company also projects an increase in slot machine revenue for the state of around $12.3 million. The state will continue to collect around 61 percent of slot revenue, giving a total tax rate over 56 percent.

Twin River and Newport Grand, in Newport, want to open full-fledged gambling in order to stay competitive with possible Massachusetts casinos.

Gov. Deval Patrick signed a law allowing up to three such facilities and legislation has established a 25-percent tax rate there.

Twin River also says that table games would generate 350 full-time equivalent jobs and around 300 spin-off jobs.

Voters on Nov. 6 must approve the referendum statewide and in Lincoln and Newport.

Calendar
PBN Hosted
Events

Join PBN and two panels of successful female executives, business owners and entrepreneurs as we delve into what women should do to advance their careers, and become leaders in the corporate world and their own enterprises.
  • Book of Lists Party
    Save the date - January 15, 2015 for PBN's Book of Lists Party at the Providence ...
Advertisement
Purchase Data
Book of Lists
Lists
Book of Lists cover
PBN's annual Book of Lists has been an essential resource for the local business community for almost 30 years. The Book of Lists features a wealth of company rankings from a variety of fields and industries, including banking, health care, real estate, law, hospitality, education, not-for-profits, technology and many more.
Data icons
Data can be purchased as single lists, in either Excel or PDF format; the entire database of the published book, in Excel format; or a printed copy of the Book of Lists.
  • Purchase an e-File of a single list
  •  
  • Purchase an e-File of the entire Book of Lists database
  •  
  • Purchase a printed copy of the Book of Lists
  •  
    National
    Local
    Latest News
    Advertisement