 Newsletter Signup
Stay informed with the
NEW Casino City Times newsletter! |
Gaming News
Harrah's Offers Rhode Island Town $15 Million Annually for Casino Rights9 August 2004WEST WARWICK, Rhode Island -- As reported by the Associated Press: "The financier of a proposed casino in West Warwick has offered the town $15 million yearly, according to a draft agreement presented to town officials last week. "The draft shows that Harrah's Entertainment would pay West Warwick $13 million in the first year, $14 million in year two, and $15 million in the third year and every year thereafter. The money would come from 2 percent of the casino's adjusted gambling revenue, plus commercial property taxes it would pay the town, according to the draft agreement obtained by The Providence Journal from Mark Fleury, the one councilman to vote against the casino. "The casino is a partnership between Las Vegas-based Harrah's and the Narragansett Indian Tribe. The General Assembly has voted to put the question before voters this November, but it's being challenged in the courts by the governor and others opposed to another casino in Rhode Island. "...The proposed $15 million annual payment is about one-fifth of West Warwick's current operating budget..." |