Study: Tiverton casino would increase jobs, revenue, despite Taunton competition

THE proposed Tiverton casino, with or without competition from Taunton, Mass., would add jobs, revenue and new economic activity for Rhode Island, according to an Economic Impact Study released by Twin River Management Group. / COURTESY TWIN RIVER MANAGEMENT GROUP
THE proposed Tiverton casino, with or without competition from Taunton, Mass., would add jobs, revenue and new economic activity for Rhode Island, according to an Economic Impact Study released by Twin River Management Group. / COURTESY TWIN RIVER MANAGEMENT GROUP

LINCOLN – Despite competition from a potential casino in Taunton, Mass., the operation of a Tiverton casino would mean increased jobs, tax revenue and new economic activity for the state of Rhode Island, according to an Economic Impact Study released Tuesday by Twin River Management Group.

With competition from a Mashpee Wampanoag Indian Tribe casino in Taunton, a Tiverton casino would create 1,391 total jobs, add $68 million in tax revenue from gaming taxes and non-gaming sources and is estimated to generate $121.4 million in new economic activity.

Without competition from a Taunton casino, a Tiverton casino would create 1,718 total jobs, $91 million of tax revenue from all sources and $157.1 million of new economic activity.

The study estimates the net economic impacts on the state of Rhode Island of building and operating a new casino in Tiverton using Newport Grand’s gaming license. It was conducted by Spectrum Gaming Group, an independent research and professional services firm that serves private and public sector clients worldwide.

- Advertisement -

Accounting for the closure of Newport Grand and assumed competition from a Taunton casino, Rhode Island can expect a net increase of 791 jobs, $30.2 million of tax revenue and $64.5 million of net new economic activity from a new casino in Tiverton in 2019. Without competition from Taunton, net gains to the state would rise to 1,118 jobs, $53.3 million of tax revenue and $100.2 million of net new economic activity, the study said.

The study also measures the current economic contributions of Twin River Casino and Newport Grand Casino. Using the last full year of data, in 2015 Twin River Casino contributed $305 million in gaming taxes. Twin River direct activity created 3,112 total jobs and $489.6 million of total output, while Newport Grand direct activity created 260 total jobs and $33.7 million of total output.

“This analysis was encouraging to us for two key reasons,” TRMG Chairman John E. Taylor Jr., said in a press release. “It signals to us and the state that our efforts to grow and improve upon the financial viability of a casino in the Newport County area have merit, even in the face of potential increased competition from Massachusetts. Second, we have long believed that it is critically important the voters understand exactly what is at stake with Question One statewide, and Question 8 in Tiverton, which are on the November ballot. The findings of this study provide that level of detail from an economic impact perspective and we hope will allow the voters to make an informed decision.”

No posts to display