Newport Grand land ace in hole?

Stakes are especially high in two Rhode Island communities on whether voters in November allow the development of a new casino in Tiverton.

For the potential host community, advocates argue the proposed casino, located 400 feet away from the Massachusetts border, could siphon customers away from the nascent casino industry in the Bay State. It also poses a potential windfall for both the town and the state. Twin River Worldwide Holdings Inc., the developer who holds the only two gambling hall licenses in the state, estimates the Tiverton casino could generate between $47 and $70 million in revenue for the state. Tiverton would keep 1 percent of table games revenue and 1.45 percent of slots revenue.

But voter approval – both statewide and in the town – would also mean the end of Newport Grand, the slots-only gambling hall located on more than 13 acres of prime real estate in the northern part of Newport. It would be closed by Twin River, which owns that facility and a casino in Lincoln.

The aging Newport facility generates about $24 million in revenue for the state each year, an amount that has been trending downward. While Newport will lose the $456,000 it received last fiscal year as a host community if Newport Grand closes, the property is valued by the city at $22 million.

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“It’s a large piece of property and it could provide significant economic-development opportunities for Newport,” said Senate President M. Teresa Paiva Weed, who grew up on the north side of Newport.

The Newport Democrat has been in discussions with Twin River about the possibility of razing the building, should the gambling hall close. Patti Doyle, Twin River spokeswoman, confirmed the discussions, saying the company is committed to working with the city and state on the best use for the property it owns.

“If it’s the will of the state and town, we’ll demolish it at our own expense,” Doyle said.

Given its proximity to the water, Naval Station Newport and nearby colleges, that section of the city has been considered by some local officials as a possible location for an innovation district, as part of a statewide initiative.

“Whatever ends up being there should align with the whole innovation-hub project,” said Newport Councilor-At-Large John F. Florez. “[The Newport Grand] land would be ideal for anything that can help us sustain our economy on a more year-round basis. It should really cater to new industries in biotech and marine technologies.”

Newport Mayor Jeanne-Marie Napolitano did not immediately respond to requests for comment.

Paiva Weed likes the idea of an innovation district too.

“Its strategic location – a stone’s throw away from the Community College of Rhode Island, Salve Regina University and our Navy people – makes it ideal,” she said. •

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