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11/25/2008
Payment plan for Twin River extended
The owners of the greyhound track-and-slot parlor agree to a 4-month extension for payments to local contractors.
11/07/2008
Gambling firm looks to regain its footing
Hoping to avoid a bankruptcy filing, the owners of Twin River consider a variety of options to increase revenue.
11/04/2008
Indian land case goes before Supreme Court
Justices express skepticism about the federal government’s claim that a 31-acre parcel of Narragansett Indian land should be exempt from state laws and taxes.
11/01/2008
Pequot tribe recognizes union
The vote allows negotiations to begin on a new contract for Foxwoods Casino employees.
10/30/2008
Lagging lottery revenue may further strain R.I. budget
Lottery officials expect the state’s gambling receipts to be $11.1 million less than anticipated.
10/28/2008
State, slot venues dispute report claiming low payouts
A UMass professor says slot payouts at Twin River and Newport Grand are among the lowest in the nation.
09/25/2008
Games of chance are no longer a safe bet for R.I.
Games such as Keno have been declining, and Powerball ticket sales are down compared to a year ago, but instant ticket sales are up.
Newport Grand unveils expanded slot parlor, new cafe
NEWPORT — Newport Grand yesterday celebrated the completion of a $28-million renovation that transformed its former jai alai fronton into additional space for more video-slot machines, new virtual blackjack tables and expanded food and beverage service.
09/24/2008
Carcieri: Rhode Island must get its full share from Twin River
The governor says he wouldn’t oppose shutting the dog track to save money, but won’t agree to a smaller cut from the financially troubled slot parlor in Lincoln.
09/23/2008
Twin River bankruptcy probable, debt-rating agency says
Moody’s Investment Services says the fact that Twin River has stopped making interest payments on its debt has increased the chances of a bankruptcy filing.
09/22/2008
S&P lowers its credit rating of Twin River owner
The demotion on Friday, from CCC- to D, stems from the financially ailing slot parlor’s recent announcement of a “forbearance” agreement on loan payments.
09/13/2008
Lenders give Twin River an extension
The slot parlor’s owner, UTGR Inc., has negotiated for months with its lenders to rework $577 million in financing.
09/04/2008
Twin River under R.I. scrutiny
Two advisory firms are reviewing all aspects of the financial operation of the slot parlor.
09/03/2008
Financing deal eludes owner of Twin River
Slot-parlor owner UTGR Inc. has been negotiating for months with its lenders to rework the $577 million in financing it has tied to Twin River’s operations.
08/30/2008
No deal yet between Twin River and lenders
After Twin River missed a loan payment in March, lenders have granted the owners several extensions to rework $577 million in financing.
08/03/2008
R.I. Statewide Coalition meeting draws 300
About 300 members of the Rhode Island Statewide Coalition turn out on a Saturday in August to talk about what’s on their minds.
R.I. Statewide Coalition meeting draws 300
About 300 members of the Rhode Island Statewide Coalition turn out on a Saturday in August to talk about what’s on their minds.
07/08/2008
State takes steps to protect its gambling take
Revenue director Gary Sasse says extra measures are in place to ensure the state gets its gambling money.
06/28/2008
Pequots cut 200 jobs at casino
The layoffs are believed to be the first in the history of Foxwoods Resort Casino, which is being hurt by high fuel prices and the faltering economy.
06/19/2008
Dog days for BLBMore difficulties for Twin River owners
Efforts by the owners of the Twin River slot-machine facility in Lincoln to expand their gambling operations in Colorado are stalled, falling victim to the political climate out West and financial problems in Rhode Island, according to observers in the Rocky Mountain state.
06/13/2008
In ‘dire’ straits, Twin River seeks a new deal with state
Having missed loan payments and in danger of falling into bankruptcy, the owners of the gambling facility offer the state $500 million now in exchange for a larger share of video-slot revenues in the future.
In ‘dire’ straits, Twin River seeks a new deal with state
Having missed loan payments and in danger of falling into bankruptcy, the owner of the gambling facility offers the state $500 million now in exchange for a larger share of video-slot revenues in the future.
In ‘dire’ straits, Twin River seeks a new deal with state
Having missing loan payments and in danger of falling into bankruptcy, the owner of the gambling facility offers the state $500 million now in exchange for the a larger share of video slot revenues in the future.
06/11/2008
Twin River gets OK for gambler-rewards program
But the facility, which hopes to boost revenues during the three-month trial period, must repay the state a set amount if the promotion falls short of expectations.
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