Twin River completes purchase of Newport Grand
By News Staff
Twin River has officially completed its purchase of Newport Grand.
The announcement of the purchase was first made in February when Twin River Management Group acquired interest in the Purchase and Sale Agreement held by Newport Entertainment and Leisure, LLC.
Following regulatory approvals by the RI Department of Business Regulation and the Division of Lotteries, the sale is now complete.
Twin River has said it plans to move the Newport Grand gaming license to a new site in Tiverton, pending local and statewide voter approval.
Joseph Moore will remain General Manager of Newport Grand, which employs about 160 people and generate $26 million for the state in 2014.
© WLNE-TV 2015
