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September 15, 2006

RIPEC study: Casino would cut into state revenues

If a casino proposed for West Warwick becomes a reality, it would take business away from Rhode Island's existing gambling parlors and cause a revenue loss for the state, according to preliminary results from a six-month study conducted by the Rhode Island Public Expenditure Council.

Gary Sasse, executive director of the business-backed policy research group, discussed the study's results at a meeting of the Rhode Island Economic Policy Council this morning.

He said the study shows that the casino, which is proposed by the Narragansett Indian tribe and backed by Harrah's Entertainment, would significantly cut into Lincoln Park and Newport Grand's business, lowering the state's revenue from the locations.

Also, Harrah's is expected to pay a lower tax rate to the state than Lincoln Park and Newport Grand. This combination would have an "obvious impact on the state," said Sasse.

The General Assembly voted to put a casino question on the ballot in November, which, if approved, would change the state Constitution to permit the casino.

-- Journal staff writer Andrea Stape

Posted by Andrea Panciera  at 12:10 PM | Permalink

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