Twin River Casino Parent Says IGT Slot Machines ‘Are the Worst,’ Further Criticizes $1B Rhode Island Lottery Contract
Posted on: July 30, 2019, 08:02h.
Last updated on: July 30, 2019, 08:02h.
Twin River Worldwide Holdings Inc, parent to the Twin River and Tiverton casinos in Rhode Island, is upping its antagonism against IGT and the company’s proposed $1 billion lottery contract with the state.
Rhode Island Governor Gina Raimondo (D) has backed legislation introduced to the General Assembly that would extend IGT’s exclusive rights to operate the state lottery for another 20 years to 2043. Senate Bill 1031 would additionally allow the UK-based gaming manufacturer and service provider to control up to 85 percent of the video lottery terminals (VLT) – aka slot machines – at the state’s two commercial casinos owned by Twin River.
A new radio spot says, “Raimondo wants them to have almost all the slot machines in the casinos, and they are the worst ones on the floor. It’s going to cost the state millions.” The Providence Journal reported the audio dialogue.
State law currently allows IGT to account for up to 50 percent of the slot machines at Twin River and Tiverton. Combined, the two casinos have more than 5,100 terminals.
Along with its two Rhode Island casinos, Twin River owns the Hard Rock in Biloxi, Mississippi, Dover Downs in Delaware, and Arapahoe Park horse racetrack in Colorado.
Slots Panned
Twin River has denounced the 20-year lottery and slot contract Raimondo has suggested for IGT. The casino operator isn’t in the manufacturing business itself, but says it would partner with such a company to offer a better deal for the state.
Twin River’s marketing campaign directs listeners to StopNoBidDeal.com, a website seeking to explain why a competitive bidding process should be held. It also scolds IGT technology.
IGT machines do not stack up competitively. They are underperforming compared to machines from the state’s two other VLT vendors. More than 1,800 of their machines are more than a decade old. Their competition, Scientific Games, has made considerably more investment,” Twin River opines.
IGT naturally disagrees. The company says it will install new machines at the Rhode Island casinos, and will agree to a $150 million capital investment mandated in the 20-year contract extension, and maintain 1,100 jobs in the state.
Economic Study
IGT financed a study on the economic benefits its operating of the Rhode Island Lottery and casino slot machines provides to the state. Bryant University Professor of Economics Edi Tebaldi carried out the review, and concluded that IGT will generate $329.5 million in economic activity in the state this year.
“IGT supports 2,445 jobs (direct, indirect and induced), produces $176.1 million in labor income, and generates $329.5 million in value for Rhode Island’s economy annually,” Tebaldi said. He adds that tax revenues total nearly $26 million annually for state and local governments.
Rhode Island businessman and philanthropist billionaire Alan Hassenfeld – the former chairman and CEO of his family’s Pawtucket-based Hasbro toys – is offering to pay for an independent review regarding the IGT contract extension.
“I have no skin in the game with IGT or Twin River,” Hassenfeld told the Journal. “To do something like this without having really outside professionals come in, I don’t care who pays for the consultants – if you want me to pay for the consultants – I really would beg the governor and the speaker and the Senate to sit down and together bring in some consultants to analyze.”
In the meantime, the Rhode Island GOP has petitioned the state Ethics Commission to launch a probe into the IGT-Raimondo deal.
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Last Comments ( 8 )
This State's leadership has made some of the poorest deals ,38 studios , State Worker's pension that was locked in for a number of underperforming management,what's next..Let the People choose !!!
The IGT slot machines are the absolute WORST!! They don’t pay out no matter how much you bet and it’s nearly impossible to win anything period. I’ve been to twin river plenty of times, I’ve lost some and won some but since IGT took over , it has been terrible. I’ll go to Foxwoods from now on if I want to gamble.
I vote NO. All public bids should be competitive and not handed out like candy.
I vote no to this behind closed door deal. What is wrong with this State that we the citizens cannot trust our politicians to work for us instead of themselves.?
no bid deal is against the law and why for 20 years plus there contract ends in 2023 so why now while she is govenor
IGT is stealing millions out of the people putting money in these machines, I’m a veteran that has spent hundreds of thousands trying to win a big jackpot to finance my own contracting business and do other things but in the long run these machines are programmed to pay out certain people and not payout regardless of how much a machine is played or taken in, I walk that place daily and watch millions thrown down the drain and where is the money going???? If a machine is coded to pay certain people than why are the machines allowed to be used, machines were supposed to have a clicker that calculated the amount of money taken in and payout a percentage but they are not paying out at all, they’re trapping the old people and watching their pockets fill up without ever giving anything I wouldn’t consider that gambling I would see that as stealing with the house knowing what they are doing.
It's obvious to me that Gina made this deal for her own personal gain ( as she's well known for) however, twin river has proven to be a little incompetent, to say the least, by allowing the casino to become the hottest crime spot in New England because of incompetent management and incompetent security personnel. I believe it's time for the state, and all the citizens of this state, to put the breaks on the power that's been given to twin river. Maybe in a few years when twin river has more experience in the gaming industry, and can prove themselves worthy of the citizens confidence, should they be allowed any further power,especially a deal like this that would give twin river the golden key to the state.
IGT games are very similar to Scientific terminals, 12 out of 15 of their top performers are IGT's. Reporting could be a lot better!