Courtesy ABC6News --
Twin River Suspending Greyhound Racing for Rest of 2009
Chris Boardman
Story Updated: May 5, 2009 at 2:36 PM EDT
LINCOLN, R.I. (AP) -
The struggling Twin River gambling parlor says it's suspending greyhound racing for the rest of the year as it deals with deep financial problems.
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Craig Eaton, the senior vice president and general counsel for the Lincoln slot parlor, told the state Department of Business Regulation in a letter Wednesday that May 31 would be the last day of racing this year.
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Twin River spokeswoman Patti Doyle says the move is in preparation for a possible bankruptcy filing, though she had no timetable for if and when that might happen.
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She said about 40 workers would lose their jobs once the racing shuts down.
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Rhode Island officials last week broke off talks with Twin River about a possible state takeover after deciding that it would be unwise to take on the facility's debt.
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As my friend, Gladys pointed out, a certain oracle pronounced ---
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Now that the Bay State is close to giving a green light to Las Vegas-style gambling, the casino giants are rushing in.
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That sound of RUSHING ???
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There are growing signs the downturn in the casino industry has hit bottom, ....
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OH?
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This from the Boston Globe in March 2009 --
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....critics of gambling need look no farther than Rhode Island for an indication that slot machines aren't a panacea. Twin River, a combined racetrack and casino operated at the former Lincoln Greyhound Park, is on the brink of bankruptcy and state lawmakers have been considering ways to keep it open, including purchasing the track.
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3 comments:
The station video made it look like the casino is empty.
So much for pretending this is the budget solution everyone is looking for.
Unions and pensions are the biggest problem and the unions are supporting casinos to keep the gravy train.It doesn't matter if Cahill gets his slots or not because they'll never cut the benefits.thats what's killing us.
Mboro picked up 90% of health insurence,paid workers more than anyone else and got us into this pickle.Just like everybody,we borowed and screwed ourselfs.Pay youre bills,save for future needs and dont look for gambling to save you.Never happen.
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