Two new MA casinos could put a damper on RI slots
The owner of the New England Patriots wants Foxboro to claim one of the state's three casinos. Bob Kraft has invited Las Vegas casino mogul Steve Wynn to pay a visit to Foxboro this weekend to consider developing a casino there.
If Foxboro does get a casino, Rhode Island's slot parlors would have double the casino competition.
That's because under the new casino law the state is divided into three sections. Each one will get a casino. That means we could have two casinos in our area, one in Foxboro and one in Southeastern Massachusetts, possibly in Fall River or New Bedford.
Twin River, Newport Grand, and the lottery make Rhode Island 300 million bucks a year. It's the state's third largest source of revenue, so having two, new casinos in nearby Massachusetts could mean a big loss for the already cash strapped state.
Whether it brings more jobs to New England or not, Rhode Island Governor Lincoln Chafee said he's not willing to take a gamble on Massachusetts resort casinos and their impact on Rhode Island's slot parlors. So he's having a study done to see just how much money could be lost.
Meanwhile Twin River officials said they doubt Foxboro will get a casino, leaving just one to worry about in the Southeast region of the state.
Their focus, is convincing Rhode Islanders to let them add table games to the slot parlor.
We're told Governor Chafee's study, that's going on now, includes a number of scenarios, including a possible casino in Foxboro.
That study is set to be out by the end of the year.