Side of the Rhode: Who’s Hot and Who’s Not? - November 27, 2020

HOT

Bally's Growth

No company in Rhode Island has gone on a buying spree like Twin River, now rebranded as Bally’s.

While many in the gaming industry have been damaged by the coronavirus, Bally’s stock has now more than doubled in the past 12 months.

Last week the company announced that it has entered into an agreement to acquire Bet.Works, a U.S.-based sports betting platform provider to operators in New Jersey, Iowa, Indiana and Colorado, for $125 million in cash and stock.

With the acquisition, Bally’s asserts it will become the premier, full-service, vertically integrated sports betting and iGaming company with physical casinos and online gaming solutions united under a single, preeminent brand.

HOT

Shaidzon's Third Birthday

Chip Samson with Shaidzon Beer spoke about how the company is addressing the coronavirus pandemic, as it celebrates its three year anniversary this year, on GoLocal LIVE. 

"Three years — a lot has changed, a lot has grown, a lot has adapted," said Samson. "We’ve expanded to over 75 beers that we’ve done since we started in November 2017. We’ve expanded the range and different styles of beer — different changes in minor ways and in big ways — it’s all an effort to improve what we’re putting out."

The beer company celebrating its third anniversary at its West Kingston location this month.

Read more here.

HOT

Simply a Cool Idea

The Avenue Concept has announced it will temporarily light 11 of its murals and sculptures throughout Downtown Providence as part of Rhode Island Commerce’s Take It Outside initiative. 

The lightings will take place on Friday, November 27 and Saturday, November 28 from 5-10 p.m. and are timed to coincide with Black Friday and Small Business Saturday to further encourage visitors to support local businesses during the lightings.

The limited engagement nighttime lightings are intended to provide the public with a safe, socially-distanced opportunity to enjoy an evening Downtown exploring public art and supporting local businesses during the holiday season. 

Read more here. 

HOT

Brown's Janet Yellen

Yellen may now be the most influential woman in America. The former head of the Federal Reserve is now the President-elect's choice for Secretary of Treasury -- and, she is a Brown grad.

Make no mistake about it. Head of Treasury not only gets their signature on every piece of currency, but also designs and implement's America's fiscal policy.

It is a way more impactful gig than going to state funerals like the VP has to do.

HOT

Providence College and URI Basketball

With Boston sports teams sliding, the two top Rhode Island college basketball programs looked surprisingly good in their openers.

We don't know how much of the season will be played, but let's savor top-tier local sports while we still have them.

NOT

Hunger in RI

New research released Monday by the RI Community Food Bank finds that the pandemic has been devastating economically for one-quarter of Rhode Island families.

The Food Bank calls the situation an economic crisis.

“The pandemic recession left an unprecedented number of Rhode Islanders without the means to feed their families. During July and August 2020, a random sample of 2,100 households were surveyed as part of the RI Life Index, an initiative,”  according to the report. “Researchers found that 25 percent of households were worried about having adequate food.This is the highest level of food insecurity recorded in Rhode Island in twenty years.”

Before the pandemic, food insecurity was on the decline, from a high point of 14.7% in 2010 down to 9.1% in 2019, decreasing gradually as the economy recovered from the Great Recession. The pandemic drastically reversed this positive trend.

NOT

Oxford and AstraZeneca

Big Pharma knows it can't screw up the vaccine, but one of the three front-runners is already scrambling backward after misrepresenting their new vaccine's efficacy.

With so many reluctant to take a vaccine, it is imperative that drug companies don't over-hype -- and regulators do their jobs.

Hit Hard and Getting Little Help

The wedding and event industry has been devastated by the coronavirus.

Organizers of The Rhode Island Coalition of Wedding and Event Professionals say that the industry now has 80% unemployment -- and they are asking Governor Gina Raimondo to provide the same level of relief that the hotel and restaurants have received.

In RI, restaurants can receive nearly unlimited support from the state and the Raimondo administration announced a $20 million support program for RI's hotels.

“Rhode Island's hospitality, tourism, and arts industries have made great sacrifices to ensure the safety of their customers and staff, and we need to do everything we can to help them through this pandemic," said Raimondo in announcing the hotel support in October. “[This] program will not only help these businesses stay open, but also to find innovative ways to adapt to this crisis.”

The wedding and event industry is also asking for relief, saying their goal is to "have our restrictions lifted by opening up capacity and allowing dancing and showing how we can create a safer, structured event through safety procedures."

Meagan Peter of Rockstar Limo, a member of the Coalition says, Oour petition with over 2,000 signatures and comments that were sent to the Governor asking to move our industry into the percentage model. We ask to be treated fairly and to be in the same category as restaurants, houses of worship, and many states around the country, especially our neighbors that are at the percentage model for weddings & events. While this isn't a request to have 100 people at an event right now given the moment, we are in. This is a request to work within a phased action plan to make sure by March 2021 we are at a percentage model so we can have a successful 2021 season."

NOT

Rhode Island's Small Businesses

If anyone needs a little help right now is the local small business community. 

For mega-retailers like Walmart, Target, CVS and Amazon, the coronavirus has been the best of times.

Profits, sales, and new customer acquisition are all through the roof. 

But for local businesses, the coronavirus has been a crushing disease that has been devastating.

In an effort to spotlight local business owners and promote holiday shopping at Rhode Island-based shops, retailers and restaurants, Rhode Island Commerce is partnering up with www.shoplocalrhodeisland.com and launching a public awareness campaign to urge Rhode Islanders to Shop, Eat and Enjoy Local this holiday season.

The campaign will include in-state digital advertising and public service announcements promoting local shopping that connects shoppers with Rhode Island businesses.

“Our local business community has been asked to make extraordinary sacrifices as we’ve fought to curb the spread of COVID and keep our communities safe,” said Governor Gina M. Raimondo. “I’m asking all Rhode Islanders to recognize these sacrifices by making the active decision to shop local, shop safe, and shop online.”