BREAKING: Paolino Selling Newport Grand to Twin River Parent Company
Wednesday, March 04, 2015
The Newport Casino sought to expand the gaming license to include table games, but referendum while was approved statewide, it was defeated in the host community of Newport.
Paolino ran the campaign effort for Newport Grand and at the time he and other investors had an option on the property.
As Paolino wrote in a column for GoLocalProv in May of 2014:
My partners and I are committed to Newport. We are Newporters – not by birth, but by choice. We have chosen to invest and own homes in a city that we appreciate. We care about the city, the local economy and most importantly, the people and the families in Newport. With the voter’s help we will revive Newport Grand – keeping it at its current location, creating jobs for local residents, and helping to speed Rhode Island’s economic recovery by ensuring that Newport Grand is a renowned entertainment venue hosting top performers.
We look forward to working with the community on this project and are excited about the benefits it will provide for years to come. We are hopeful for a successful City Council vote tonight and with that will continue to engage Newport, and the entire state, about our plans to transform Newport Grand into an elegant entertainment complex and will provide everyone with updates on this project.
With Massachusetts gaming coming online, there is added competition between the two RI facilities and the two mega facilities Foxwoods and Mohegan Sun in Connecticut.
Related Slideshow: New England Casinos - See Who RI is up Against
Below are major casinos that are competing with Rhode Island. Data is taken from reports issued from the Center for Policy Analysis at the University of Massachusetts at Dartmouth.
- Casinos Pour Millions into Table Games Question
- State Report: Voter Fraud, Schilling’s Meltdown & Casino Gaming
- Deadline Approaches For MA Casino Developers
- NEW: MA Gamblers Account for Majority of Visits to RI Casinos
- Dan Lawlor: Casino Gaming Won’t Save Rhode Island
- MA Residents Spent Almost $1 Billion at NE Casinos
- State House Report: Schools, Civil Liberties & Casino Gaming…
- State House Report: Casinos, Legislative Health Insurance & Gubernatorial Appointments
- Can Casino Gaming Save Rhode Island?
- State Report: 38 Studios, Legislative Raises & Casino Gaming
- Worcester Slot Casino Unveiled - A Threat to Twin River?
- RI State Report: More Tolls, Bryant Pays + Casino Theft
- Newport Superior Court to Hold Hearing on Possible Campaign Violations by Anti-Casino Group
- New Complaint Filed Against Anti-Casino Group
- Newport Grand Backers Say Anti-Casino Donor Failed to Disclose Ties to Caesars
- New England Casinos - See Who RI is up Against
- Twin River Casino Explores Hotel Project, Informs Lincoln
- Paolino, Casino Opponents Battle Over New Senate Proposal
- Group Opposed to Paolino Casino Proposal in Newport
- NEW: Twin River Casino to Add 14 Table Games, 90 Jobs
- NEW: Twin River Worldwide Holdings to Acquire Casino in Biloxi, MS
- Will Foxwoods Funded Fall River Casino Sink Newport Grand?
- Russell Moore: Make Twin River A Destination Resort Casino
- New Members Named To Citizens Concerned About Casino Gambling Executive Committee