Twin River “Positioned” To Meet Threat Of Expanded Gambling In Mass.
The chairman of Twin River says the casino company is well-positioned to meet the threat of expanded gambling in Massachusetts, with the addition of table games and the acquisition of a resort casino in Mississippi.
Chairman John Taylor cites as key to the company’s strategic plan the introduction last year of blackjack, roulette and other table games at the Lincoln casino and the planned purchase of the Hard Rock Hotel & Casino in Biloxi. That deal, dubbed an ‘‘important piece of the puzzle,’’ is expected to close in June or July.
Taylor also said Twin River is investing heavily in staff training to deliver a high-quality experience for players.
‘‘We’re getting ready for what’s going to come,’’ he said in an interview, referring to the 2011 Massachusetts gambling law, which authorized the licensing of up to three casinos, including one in the southeastern region, and a slots parlor.
According to one estimate, Massachusetts residents have been shelling out about $1.1 billion a year on gambling in Rhode Island and Connecticut, which is home to Foxwoods and Mohegan Sun. Rhode Island fully expects its neighbor to recapture some of that spending: State gambling revenue here is anticipated to drop by $422 million over five years, beginning in fiscal year 2016, because of expanded gambling across the border.
Gambling, including the lottery, is the third-largest revenue stream in Rhode Island’s budget. (Associated Press)