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February 7, 2008

Twin River official: Longer gambling hours could only help

NEWPORT -- An official from the Twin River gambling facility in Lincoln is expected to tell a House Finance Committee hearing that "additional revenue can be generated with little or no impact to the local community" if Rhode Island enacts round-the-clock gambling there.

In remarks prepared for the hearing scheduled to start at 4 p.m. at the historic Old Colony House, Craig Sculos, Twin River vice president and general manager, said such revenue "may, in part, assist you in addressing your broader budgetary problems."

Twin River says the state could expect to get a projected $16.5 million more in annual revenue if Twin River went to 24-hour gambling.

"We believe that we could be up and operating on that basis within four to six weeks from the date of your decision," Sculos says. "From that point forward, we expect that the state would receive an additional $318,000 weekly. These are revenues that could perhaps be of assistance in meeting current fiscal year shortfalls."

On the agenda at the hearing are two bills dealing with proposed 24-hour gambling at Twin River and at Newport Grand. One is House bill 7040, which would allow video lottery games to run 24 hours a day at Newport Grand and Twin River, with revenue from the additional hours going to the state's general fund.

The other bill, House 7161, would mandate approval from voters in host communties and from the state's electors if video lottery game expansion is sought between 1 and 8 a.m.

-- projo.com staff writer Michael P. McKinney

Sculos said in his prepared remarks that extended hours could be better in that guests would no longer have to leave at a set time but, rather, at different intervals, lessening the traffic that now happens at Twin River's closing.

"We expect that the vast majority of the additional revenue will come from existing players who simply choose to extend their stay," Sculos says. "There is also a niche segment to the market that we are now losing to Connecticut [casinos] because of their extended hours, and we do hope to capture a portion of that segment. But, we believe that to be fairly small in terms of both numbers and revenue."

Tiwn River would continue to use police and fire details throughout the extended hours along with the parlor's security and surveillance departments, he says.

Sculos also says the state would benefit because extended hours would create more jobs at Twin River -- payroll subject to state taxes. And he says Twin River would expect restaurant revenues to rise because there would be later reservations available. The slot parlor's restaurants, Fred & Steve’s Steakhouse, Fado Irish Pub, and Carmine’s, "experience a significant drop off in reservations" after 9 p.m. because patrons decide to play the casino games before Twin River's closing time.

Posted by Mike McKinney at 4:37 PM | Permalink

Comments

Each & every one of us should be in an absolute uproar over this. This is huge slap in all our faces. It wasn’t very long ago when our governor et al. proclaimed the evils of gambling. We we warned that a 24 hour gambling operation would only bring an increase in crime, divorce, etc. Now this!

The people voted against this. And specifically the people of Lincoln. Where is Save our State now?

Founding members of Save Our State include
The Rhode Island Hospitality Association
Lincoln Park and Newport Grand, working under the direction of Lincoln C. Almond, Chairman and Tim Costa, Executive Director.

List of Organizations
Governor Donald L. Carcieri
Common Cause
East Greenwich School Committee
Grow Smart Rhode Island
Lt. Governor Charles J. Fogarty
North Kingstown Chamber of Commerce
Mayor Scott Avedesian
Mayor David N. Cicilline
Newport County Chamber of Commerce
Police Chiefs Association
Providence Chamber of Commerce
Providence Foundation
Providence-Warwick Convention and Visitors Bureau
Rhode Island Council of Churches
Rhode Island Public Expenditure Council
Rhode Island League of Cities and Towns
Senator Elizabeth Roberts
Washington County Regional Planning Council

Direct quotes from our governor:

"Everyone here has heard me talk about my opposition to a casino," said Carcieri
"First and foremost, casino gambling is wrong for Rhode Island. It is wrong for our economy, it is wrong for our close-knit neighborhoods, and it is wrong for our government. No other legislative action since my inauguration has so thoroughly imperiled our cherished quality of life. Taking the path towards casino gambling is an irreversible step. Once done, it can never be undone.

Carcieri continued, "You've all heard me say this before, but it bears repeating. A casino will undercut state revenues, will destroy nearby businesses, will increase the potential for public corruption, and will impose serious and unavoidable societal costs on our state."

dreamer2 | February 7, 2008 6:46 PM link

I live in Lincoln, and for Twin Rivers to stay open longer is a joke. Its sick that to generate extra money for the State, The State has to rely on the gambling losses of taxpayers in or out of Rhode Island. Why doesn't the State cut expenses, especially of the more than genereous Welfare system. What is the money go to do anyways, give more money to the people in section 8 housing that line Diamond Hill Road in Woonsocket near Walmart. Or how about Galiego court in Pawtucket.

When I am ready to retire, its bye bye Rhode Island .

p.s. I think R.I. was the last State to join the union, Maybe R.I. should of stayed a foreign Govt.Just think of the foreign aid we could of received from the U.S.

steve | February 7, 2008 7:56 PM link

It is unfortunate that Steve is using this forum as a diatribe against low-income families. While the welfare system could be categorized as "generous" by American standards, most people on public assistance are hardly leading a luxurious life. I, including many other people in this state, have benefited tremendously from low-wage labor in the form of cheaper consumer goods. We need low-wage labor to fill an obvious demand. If the wages were to increase to where an indivudual or family could actually afford to live on his/her/their own, the result would be higher prices for consumer goods. Which way would you like it Steve? Steve's myopic view is unfortunately all to prevelant. RI's budget problem, like life, is not that simple. To use one example as to why RI is in crisis mode look to its pension system, which pays double what the surrounding New England states do. See Projo Article. This liability will only grow as more and more people retire. Instead of attacking a helpless and under-represented group of people, we should all try to look inward for ways that we as citizens can sacrifice for the good of this state.

Mike | February 8, 2008 2:27 PM link

February 7, 2008

Twin River official: Longer gambling hours could only help

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