PROVIDENCE – Christiansen Capital Advisors LLC has been contracted by the R.I. House of Representatives to conduct an independent review of International Game Technology PLC’s 20-year gaming contract proposal under consideration by the R.I. General Assembly, House Speaker Nicholas A. Mattiello and House Republican Leader Blake A. Filippi announced Wednesday.
Christian Capital Advisors was one of four professional gaming consulting firms that submitted study proposals for consideration. The proposal considered content, process, impartiality, timeliness and expertise, according to the House announcement.
Rhode Island small business sees significant annual energy savings
The Rhode Island Energy Small Business Program offers significant incentives to property owners for comprehensive…
Learn More
The contract amount for the review is $147,600, with anticipated additional expenses of $11,500. The study will be funded by the Joint Committee on Legislative Services.
“Bringing in third-party experts has become standard practice for governments that contract in this technical field,” said Filippi in a statement. “This need is only magnified by the IGT proposal – particularly because competitive bidding has not been used, the proposed contract is for 20 years and the conflicting testimony between IGT, the Raimondo administration and Twin River about core elements of the proposed contract. We believe that outside experts will help us secure the best deal for Rhode Island taxpayers.”
The independent review comes after a pitched battle between IGT and Twin River Worldwide Holdings Inc. over a proposed 20-year contract for IGT to continue to run gaming in Rhode Island.
IGT has heralded its expertise in the field, as well as its commitment to maintaining jobs in Rhode Island, as a selling point for a new long-term gaming contract. The company’s current 20-year contract began in 2003.
Gov. Gina M. Raimondo has backed an IGT contract, arguing, among other points, that the jobs that IGT provides to Rhode Island with its U.S. headquarters located in Providence are too valuable to lose.
Twin River has argued that the proposed deal would be bad for taxpayers, but has also taken issue with IGT’s share of video lottery terminals at Twin River’s Rhode Island casinos.
Twin River has sought to bring in partners to oversee the massive lottery contract in the state.
Any contract will have to be approved by the General Assembly.
Christiansen Capital Advisors has worked with the R.I. General Assembly before, including conducting the Rhode Island Gaming and State Revenue Forecast in March. The company has offices in New York City and in New Gloucester, Maine.
Chris Bergenheim is the PBN web editor. You may reach him at Bergenheim@PBN.com.
