Twin River unveils Tiverton casino plan

ANOTHER VIEW of the proposed casino project in Tiverton. / COURTESY TWIN RIVER CASINO
ANOTHER VIEW of the proposed casino project in Tiverton. / COURTESY TWIN RIVER CASINO

(Updated 12:45 and 1:16 p.m.) LINCOLN – To compete with Massachusetts gaming, the owners of Twin River Casino said Tuesday they are proposing to build a casino with table games on 45 acres in Tiverton and transfer Newport Grand’s gaming license to it.

The earliest construction could begin would be by late 2017 or early 2018, John Taylor, chairman of the Twin River Management Group Inc., told Providence Business News.

TRMG already has entered into a contract to purchase the Newport video slots parlor, which is subject to regulatory approvals and other closing conditions. Newport Grand will continue to operate during the planning phase of the Tiverton project, Taylor said.

“The site we found was ideal. It was immediately off the highway, easy to get in and out of, and close to where Newport Grand’s players are,” Taylor said.

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The Twin River owners have secured the rights to acquire the undeveloped land just off Route 81 (William S. Canning Boulevard) near the Route 24 interchange, 400 feet from the Rhode Island/Massachusetts border, Taylor said.

Dubbed “The Tiverton Proposal: An Idea for Rhode Island,” the plan is for Twin River owners to have a “comprehensive dialogue” with the residents of Tiverton first to see if they are open to developing a project that is appropriate for the community, Taylor said. Newport Grand would remain open until the license could be transferred, he said.

According to the Massachusetts Gaming Commission, May 4 is the extended deadline for two of the three organizations proposing a resort casino in southeastern Massachusetts to submit their proposals. Mass Gaming & Entertainment has submitted first-phase application, while KG Urban and Crossroads Massachusetts had asked for more time, the commission reported in March. And the Wampanoag tribe already has been awarded a destination casino license in Taunton, Taylor added.

Once operational, the Tiverton casino could have about 1,100 slot machines – about the same number as in Newport Grand, and up to 40 table games, but could employ about 350 people as compared with the 160 now working at Newport Grand, Taylor added.

The additional table games would make the Tiverton proposal competitive with any resort casino that may be developed in nearby Fall River, he said.

Faced with the potential $100 million annual loss of state revenue from Massachusetts gaming and citing the property’s proximity to routes 24 and 81 in southeastern Massachusetts, Taylor said, “in competitive markets, one of the single biggest determinants of success is convenience. The closer you are to your players the more likely you are to be successful. The vast majority of Newport Grand’s players are in that Southeast zone. Being closer to our existing players will position us to more effectively compete to keep them with us because it will be easier to get to us.”

Taylor said TRMG believes a “comprehensive” conversation with Tiverton and Rhode Island residents is the prerequisite to a new facility that can bring in more revenue.

If Newport Grand terms of acquisition and other various conditions are met, including approval from the town of Tiverton and the state, the owners of Twin River would take steps to “prepare the property [in Newport] to be an economic catalyst for future growth,” Taylor said. He did not elaborate on how those plans could take shape, but reiterated TRMG’s commitment to Newport.

Newport Grand generates approximately $30 million a year in revenue for the state, said Taylor, but owners believe table games at the Tiverton site could increase that figure, although he could not project future revenue, or cost or size of a Tiverton facility.

“We have no schematics,” Taylor said. “We’re serious about having this conversation [with the townspeople of Tiverton] from the beginning. At the end of the day, Tiverton is going to have to be comfortable with what the facility looks like.”

Twin River owners would need not only community support but the approval of the Tiverton Town Council, which would have to be followed by approval through a statewide referendum.

The earliest the General Assembly could place the issue on local and statewide ballot referendums is November 2016. If that referendum passes, the earliest TRMG could construct a facility would be 2017 to early 2018, Taylor said.

Taylor added that TRMG will continue to invest in Newport Grand.

“Irrespective to what happens in Tiverton, we are committed to Newport Grand acquisition and running and operating that business,” he said. “Over the next couple of years our plans for Newport Grand have us probably putting in $1 million in capital into that facility. We’re not going to stand around and wait to see what happens in Tiverton. We’re going to operate it to be successful.”

Gov. Gina M. Raimondo released a statement regarding the proposal, saying that “with competition from casinos in Massachusetts posing a real threat to an important source of revenue in Rhode Island, we need to examine ways to remain competitive.”
“This is especially true since we have a $190 million budget shortfall this year; we are under-investing in critical areas like workforce development, businesses-attraction and infrastructure; and anticipated gaming competition could worsen our budget challenges in the years ahead. This is a proposal that could be beneficial for the state. We look forward to learning more details, and to engaging with the town of Tiverton about it,” Raimondo said.
Senate President M. Teresa Paiva Weed also weighed in, saying she is “mindful that the voters of Newport have voted twice not to allow table games at the Newport location. I recognize that the proposed location, just steps from the Massachusetts border, provides the best opportunity to preserve existing jobs and protect state revenue.”
She said she has expressed concern that if the move to Tiverton proceeds, future development of the present site is a critical issue for Newport.
“I support Twin River’s plan to have a conversation with the residents of Tiverton to explore the possibility of relocation, and I am grateful for their public commitment to a planning process to ensure the highest and best use of the land in Newport,” Weed said.

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