Revenue Numbers at Twin River’s New Tiverton Casino Down 19 Percent
GoLocalProv News Team
Revenue Numbers at Twin River’s New Tiverton Casino Down 19 Percent
In the first month, the Tiverton casino generated a total of $11,437,607 in revenue — of that $9,837,048 was from video terminals and net table games revenues was $1,600,559, but in October the video revenue numbers fell by nearly 25 percent.
October video net terminal income fell to $7,573,687 and the net table games increased slightly to $1,696,431. The total net decrease was 19 percent month over month.
GET THE LATEST BREAKING NEWS HERE -- SIGN UP FOR GOLOCAL FREE DAILY EBLASTThe numbers were provided by the RI lottery Commission and the State’s revenue office.
Plainridge Dip Less Severe
The Plainridge Park Casino saw a dip in total gambling from its first full month of operation to its second full month, but the decrease was less than half of the decrease realized by Tiverton.
According to Massachusetts Gambling Commission data that is publicly published each month, total “Coin-In” July 2015 was $182 million and then decreased to $166 million in August.
Patti Doyle spokesperson for Twin River said, "We are quite comfortable with where things stand. We opened in September with lots of fanfare. And an extra Saturday in September vs. October. We spent the first 45 days evaluating the property before formal marketing commences. Last, it’s more appropriate to evaluate same month year over year than one month after the next due to the seasonal nature of the business."
Continued Delay in Sports Betting in RI
Rhode Island has also lost out to millions in revenue due to the delay of sports gambling coming online. It was originally budgeted to go live on October 1, but has now been delayed weeks.
A GoLocal review found that the state has missed the busiest sports betting season of the year due to the delay. READ MORE HERE.
According to the company, Tiverton Casino Hotel, a Twin River property, features 32 table games, up to 1,000 slots.
John Taylor said in the summer that, “We have partnered with Luciano Canova to open Trattoria Romano, a full-service Italian Chophouse restaurant, and we are also opening a market Square that will feature such national brands as Mooyah Burgers, Pie Five Pizza, and local Rhode Island favorite, Jacky’s Galaxie. We will also have a Dunkin Donuts operation on the property.”
The attached 84-room hotel will feature meeting space and a fitness center.
The story was updated 11/13/2018 at 12:58 PM