Former Providence, Rhode Island Mayor Joseph Paolino is part of a group of investors who say they want to buy the Newport Grand slots casino in Newport, but only if they can persuade voters of the city and the state to authorize table games.
Paolino has formed a partnership with developers Peter de Savary and Paul Roiff to option the casino from owner Diane S. Hurley and her partners. During a press conference Paolino said, “The three of us all have an investment here in Newport. We all live in Newport during the summer months, and we’ve all had a connection to Newport for a number of years.”
The hurdle that must be jumped is to persuade the city council and then the voters to approve of table games, something that Newport voters turned down in 2012 by a vote of 4,200 to 3,650.
If they succeed, the partners say they are will to invest $40 million to renovate the casino to a vision inspired by Monte Carlo. They won’t seek any government money, just the city’s blessings. They warn that unless the city gives this boon to the casino that the opening of three casino resorts and a slots parlor in neighboring Massachusetts will spell the Newport Grand’s demise. Rhode Island’s other casino, Twin River, recently was allowed to add table games. “Gaming is here in Newport. The question is, do you want what’s here now to be successful?” said the former mayor.
De Savary told reporters, “We are trying to create something that has more of a European flavor that’s more compatible with the gracious architecture of Newport the historic buildings. We’re trying to create something there that when you come over the bridge people say, ‘Wow. I heard about Newport, now I know what it means.’ ”
