Support in Rhode Island House for Transferring Casino License

Support is building for approving of the license transfer from New Grand slots parlor in Newport to Twin River, which purchased the rival casino several months ago. The transfer would also make it easier for Twin River to move the casino from Newport to Tiverton, near the Massachusetts border.

The speaker of the Rhode Island House, Nicholas Mattiello, supports legislation that would allow the new owners of the Newport Grand slots parlor, Twin River, to switch the gaming license from the old owners to them.

Twin River, the state’s only Las Vegas style casino recently purchased the Newport Grand slots parlor.

The bill would also smooth the way for moving the casino from Newport to Tiverton, near to the state’s border with Massachusetts. Twin River has acquired an option for 45 acres in Tiverton. The company needs the blessings of the legislature and the voters of Tiverton to make the move. It is making the move because the voters of Newport have twice refused to authorize table games at the casino.

The bill introduced recently in the House Finance Committee, appears to be on the fast track. Taxes from the two casinos are the third largest source of revenue in state.