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May 13, 2008

Newport Grand to stay open later on weekends

Although state lawmakers in search of budget-balancing revenue just gave it the permission to do so, Newport Grand will not go to full overnight weekend and holiday gambling. Instead, it will extend hours to 2 a.m. on those days.

Newport Grand issued a news release today announcing the hours after having met with Newport officials to talk about extended hours.

“With more than 20 years of gaming experience, we believe extending hours of operation to 2 a.m. on weekends and holidays is operating under best practices, and presents the most effective way to grow revenue," Diane Hurley, Newport Grand's chief executive officer, said in the statement. "Newport Grand will continue to closely monitor revenues and operations during the extended hours, and will make future business decisions based on this criteria."

Before the law change, the gaming facility hours had been 10 a.m. to 1 a.m. daily, according to its Web site.

Over the past weekend, Twin River in Lincoln began offering 24-hour weekend and state/federal holiday gambling.

The new law allows the two privately owned video-slots emporiums to stay open overnight on Fridays, Saturdays and state and federal holidays. They are allowed to be open until 3 a.m. all other days. The law also has a one-year sunset clause to allow lawmakers to re-examine impact of the overnight gambling on revenue and the communities.

Hurley said in today's statement that as "a vital partner" with the state, "we have a responsibility to maximize state revenues from video lottery terminals" and added that Newport Grand representatives met with the city "to be sure they understand what our plans are for the extended hours."

The General Assembly last week overrode Governor Carcieri’s veto of the 24-hour gambling as it tries to close an ominous budget deficit. The state has expected to take in about $243 million from Twin River’s video slots for the fiscal year ending June 30, and about $256 million for the year beginning July 1. The Journal has reported that lawmakers are betting on round-the-clock gambling at Twin River and Newport Grand to raise upward of $14 million in new money.

-- projo.com staff writer Michael P. McKinney, with Journal archival reports

Posted by Mike McKinney  at 7:09 PM | Permalink

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