Twin River Casino Parent Says IGT Slot Machines ‘Are the Worst,’ Further Criticizes $1B Rhode Island Lottery Contract
Posted on : July 30, 2019, 08:02h .
last updated on : July 30, 2019, 08:02h. Twin River Worldwide Holdings Inc, parent to the Twin River and Tiverton casinos in Rhode Island, is upping its hostility against IGT and the company ’ mho proposed $ 1 billion lottery contract with the state .
Twin River casino executives aren’t too pleased with IGT’s slot machine technology. (Image: Reuters)
Rhode Island Governor Gina Raimondo ( D ) has backed legislation introduced to the General Assembly that would extend IGT ’ s exclusive rights to operate the department of state lottery for another 20 years to 2043. Senate Bill 1031 would additionally allow the UK-based bet on manufacturer and military service supplier to control up to 85 percentage of the video lottery terminals ( VLT ) – aka slot machines – at the state of matter ’ s two commercial casinos owned by Twin River.
A newly radio spot says, “ Raimondo wants them to have about all the slot machines in the casinos, and they are the worst ones on the floor. It ’ mho going to cost the department of state millions. ” The Providence Journal reported the audio negotiation .
state law presently allows IGT to account for up to 50 percentage of the slot machines at Twin River and Tiverton. Combined, the two casinos have more than 5,100 terminals .
Along with its two Rhode Island casinos, Twin River owns the Hard Rock in Biloxi, Mississippi, Dover Downs in Delaware, and Arapahoe Park sawhorse racetrack in Colorado .
Twin River has denounced the 20-year lottery and slot contract Raimondo has suggested for IGT. The casino operator international relations and security network ’ triiodothyronine in the fabrication business itself, but says it would partner with such a company to offer a better cover for the express .
Twin River ’ s marketing campaign directs listeners to StopNoBidDeal.com, a web site seeking to explain why a competitive bid action should be held. It besides scolds IGT technology.
IGT machines do not stack up competitively. They are underperforming compared to machines from the state ’ south two early VLT vendors. More than 1,800 of their machines are more than a ten old. Their contest, Scientific Games, has made well more investing, ” Twin River opines .
IGT naturally disagrees. The company says it will install new machines at the Rhode Island casinos, and will agree to a $ 150 million capital investment mandated in the 20-year narrow extension, and maintain 1,100 jobs in the state .
IGT financed a sketch on the economic benefits its operate of the Rhode Island Lottery and casino slot machines provides to the express. Bryant University Professor of Economics Edi Tebaldi carried out the follow-up, and concluded that IGT will generate $ 329.5 million in economic activity in the department of state this class .
“ IGT supports 2,445 jobs ( direct, indirect and induce ), produces $ 176.1 million in labor movement income, and generates $ 329.5 million in value for Rhode Island ’ mho economy annually, ” Tebaldi said. He adds that tax revenues total about $ 26 million annually for submit and local anesthetic governments.
Rhode Island businessman and philanthropist billionaire Alan Hassenfeld – the erstwhile president and CEO of his family ’ s Pawtucket-based Hasbro toy – is offering to pay for an independent inspection regarding the IGT contract extension .
“ I have no skin in the game with IGT or Twin River, ” Hassenfeld told the Journal. “ To do something like this without having very outside professionals come in, I don ’ thymine care who pays for the consultants – if you want me to pay for the consultants – I actually would beg the governor and the speaker and the Senate to sit down and together bring in some consultants to analyze. ”
In the meanwhile, the Rhode Island GOP has petitioned the express Ethics Commission to launch a probe into the IGT-Raimondo cope .