Chafee names firm for gambling impact study

PROVIDENCE – Gov. Lincoln D. Chafee said he selected Christiansen Capital Advisors LLC to conduct an economic impact study on Rhode Island’s lottery, Twin River and Newport Grand as Massachusetts legislators work on a bill allowing casino gambling in the state.
“We are prepared for competition – whether it comes from Massachusetts, Connecticut, or New Hampshire – and I remain fully committed to protecting this vital source of revenue,” said Chafee in a news release Tuesday. Proceeds from the lottery, Twin River and Newport Grand are the state’s third largest source of revenue, he said.
The R.I. Lottery paid $354.9 million into the state’s general fund for the fiscal year that ended June 30, Providence Business News reported Oct. 10.
The agreement with Christiansen closed Oct. 26, Chafee said.