PROVIDENCE – Twin River Management Group announced Tuesday it has submitted an alternate proposal to operate the state lottery, pairing with a London-owned company that handles several state and European lotteries.
The proposal by Camelot Lottery Solutions and Twin River, submitted to legislative leaders, is pitched as “a better deal for Rhode Island,” according to an overview.
Intended as a competing proposal for the renewal of a 20-year contract with International Game Technology, the two companies promise to provide 1,100 jobs over the life of a 12-year contract, guaranteed by $100 million to be paid to the state if the provisions are not met.
The proposal also pledges $75 million in development costs in a new 50,000 square-foot headquarters, to be located in a Rhode Island community as-yet unidentified.
Under the proposal, no more than 50 percent of the lottery-controlled slot machines would be controlled by Camelot, to stimulate competition and enhance the state’s ability to generate revenue from gambling.
The state House finance committee and Senate finance committee in the coming days are scheduled to begin a long-anticipated review of the IGT proposal, which was negotiated over several months by the administration of Gov. Gina M. Raimondo.
Under that package, IGT would retain 1,100 employees in its Rhode Island headquarters, through a 20-year contract.
Camelot is a 20-year-old company that is wholly owned by the Ontario Teacher’s Pension Plan, according to the proposal materials. It has management contracts to provide technology and lottery services to the states of Illinois and Arkansas, as well as to the Irish National Lottery.
Earlier this year, it announced a rebranding of its name and business from the former Camelot Global. At that time, it had 400 employees, according to a news release.
Mary MacDonald is a staff writer for the PBN. Contact her at firstname.lastname@example.org.
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