VIDEO: Twin River Tiverton Casino Investment Jumps From $75M to $135M+

GoLocalProv News Team

VIDEO: Twin River Tiverton Casino Investment Jumps From $75M to $135M+

John Taylor
The construction of the new Twin River Tiverton Casino is underway, with the anticipated completion date now October 2018 -- and Twin River's investment in the facility has nearly doubled from originally anticipated costs. 

The new price tag, according to Twin River officials, is between $130 million and $140 million. The original price tag was $75 million. 

"It's a lot of capital, but it's an important project to the company and a lot of stakeholders," said Twin River Chairman John Taylor, at a walk-through of the Tiverton Casino and hotel construction site with the press on Wednesday. "We were candid about what was driving the costs - materials, labor."

GET THE LATEST BREAKING NEWS HERE -- SIGN UP FOR GOLOCAL FREE DAILY EBLAST

Taylor and Twin River officials provided an hour-long tour and update on Monday, which included questions from the press about expected revenues -- and traffic concerns.

"Newport Grand contributed [approximately] $26 million annually to state revenues -- [Tiverton] should get to $50 - $55 million," said Taylor.

Taylor, who was asked again about traffic concerns, said that consultants looked at the traffic study a second time, after the completion of the Market Basket less than a half mile away, in the commercial area close to Route 24.

"You can't have a convenience casino that's not convenient to get to," said Taylor. 
 


GoLocal: Benchmark Poll, October 2017

Enjoy this post? Share it with others.