RI gambling parlor to suspend greyhound racing
Published on 5/5/2009
LINCOLN, R.I. (AP) — The struggling Twin River gambling parlor says it's suspending greyhound racing for the rest of the year as it deals with deep financial problems.
Craig Eaton, the senior vice president and general counsel for the Lincoln slot parlor, told the state Department of Business Regulation in a letter Wednesday that May 31 would be the last day of racing this year.
Twin River spokeswoman Patti Doyle says the move is in preparation for a possible bankruptcy filing, though she had no timetable for if and when that might happen.
She said about 40 workers would lose their jobs once the racing shuts down.
Rhode Island officials last week broke off talks with Twin River about a possible state takeover after deciding that it would be unwise to take on the facility's debt.
EDITORIAL FOOTNOTE; The dog track seems to be a looser. Twin Rivers in bankruptcy?
I don't think we could shut down Pocono Downs trotter racing. I believe it is tied in with our license in Pennylvania.
If Pocono Downs was not tied to the Mohegan Sun, in Connecticut, would it be bankrupt, too? I believe, we (the Mohegan Tribe) knew going into the Pocono deal, that the horse racing would never make money? How much do we pay the horsemen every year? How much have we spent or will spend on improvements of the harness racing? Do you know? Should we find some way to get out of this deal? What do you think?
Bankruptcy for Twin Rivers means that the casino will have the opportunity to somehow fix their financial situation. It could also mean the end of the racetrack or the casino as it exists at the moment. It could mean more business for the Mohegan Sun and Foxwood Resorts Casino and the MGM Hotel Casino at Foxwoods.