IGT Consultant Calls Out Twin River Executive for "Hypocrisy"

IGT Consultant Calls Out Twin River Executive for "Hypocrisy"

It is a heatwave -- not the temperatures but the now fever pitch battle between Rhode Island's two gaming titans.

The latest is a blistering series of Tweets by a top IGT consultant who calls out Twin River's Vice President Marc Crisafulli for inconsistency and "hypocrisy."

Bill Fischer said in a series of Tweets:

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"A few thoughts on Marc Crisafulli and his daily dose of hypocrisy - for the record today is the day we officially hit our BS threshold w/TR. If @projo wants to gobble up every word, have at it, but TR is the one who started this conversation w/o telling you their true motivations

Now let's turn to today’s installment of “Things Marc Says”. It’s important to understand that 2003 Crisafulli played a key role in negotiating the “right of first refusal” clause when he was IGT’s general counsel.

Now 2019 Crisafulli says he regrets his activities in negotiating clauses in the GTECH/IGT Master Agreement. Here’s the thing, 2003 Crisafulli didn’t have that attitude when he used the contract and its clauses as justification for his sizeable bonus that year.

If 2019 Crisafulli really has regrets, perhaps he’ll return some of that bonus money and we can donate it to a charitable cause in his name.

Now let’s turn to the clause. The 2003 economic development agreement with the State had numerous provisions that would not be part of a traditional lottery services contract.

For example, the development of a new downtown headquarters in the Capital District along with employment level obligations for 1000 people were features of the that would not be found in a traditional lottery contract.

GTECH was making substantial investments and taking on obligations for 20 years, the company sought to ensure that the revenue assumptions used to support the investment would be protected, as much as possible, from future actions that might undermine expected revenue streams

The “first look” provision was part of that process and allowed GTECH/IGT to match, if it chose to do so, any future offers the RI Lottery might receive for lottery products covered in the agreement.

Other state lotteries have not entered into economic development agreements with significant investments and employment level obligations similar to RI - a comparison to other service only agreements is nor relevant or valid."

Fischer is the President of True North Communications.