In September 2019, the state of Rhode Island approved a plan to close the Twin River Casino in Lincoln. The casino had been struggling financially for years, and the state felt that it was no longer a viable option.
The closure was originally supposed to happen in November 2019, but it was ultimately delayed until January 2020.
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The Twin River Casino was first opened in 1986, and it quickly became one of the most popular gambling destinations in New England. However, the casino began to struggle financially in the early 2000s, and it was eventually sold to a private company in 2009.
The new owners struggled to keep the casino afloat, and it filed for bankruptcy in 2011.
The casino was eventually purchased by the state of Rhode Island in 2012, but it continued to struggle financially. In 2018, the state announced that it was exploring options for the future of the casino, including a possible sale or closure.
After several months of deliberations, the state decided to close the casino.
The closure of the Twin River Casino will have a significant impact on the Lincoln economy. The casino employed over 400 people, and those jobs will now be gone.
Additionally, the city will lose out on revenue from the casino, which is estimated to be around $5 million per year.
The city is already working on plans to offset the loss of revenue from the casino closure. One option that is being considered is a property tax increase.
This would be difficult to pass, as Lincoln already has one of the highest property tax rates in Rhode Island. However, city officials feel that it is necessary in order to make up for the loss of revenue from the casino.
The closure of the Twin River Casino is a major blow to the Lincoln economy. The loss of jobs and revenue will be difficult to offset, but the city is already working on plans to do so.
