Wednesday, November 10, 2010

Rhode Island's Twin River Slot Parlor Emerges From Bankruptcy With Debt Cut In Half

Feather News

The Twin River slot parlor in Lincoln, R.I., emerged from bankruptcy yesterday with new owners and a balance sheet that is about $300 million lighter in debt.

Over the 17 months that Twin River was under bankruptcy protection, besides slicing its debt almost in half, the facility's owners convinced the state to allow it to remain open 24 hours a day and to eliminate its money-losing, dog-abusing greyhound races.

Twin River is now owned by a group of banks and financial firms.

Twin River was not successfull, however, in convincing the governor to approve a bill that would have resulted in a referendum on allowing table games.