economic development

Chafee names firm for gambling impact study

COURTESY TWIN RIVER
GOV. Lincoln D. Chafee said he selected Christiansen Capital Advisors LLC to conduct an economic impact study on R.I.’s lottery, Twin River and Newport Grand as Massachusetts legislators work on a bill allowing casino gambling in the state.
Posted 11/16/11

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.

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