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RI Slot Parlor Files For Bankruptcy Protection

Discussion in 'North American Land Based Casinos' started by BingoT, Jun 25, 2009.

    Jun 25, 2009
  1. BingoT

    BingoT Nurses love to give shots

    Nursing & Run Bus Trips
    RI Slot Parlor Files For Bankruptcy Protection

    PROVIDENCE, R.I. -- A Rhode Island slots parlor says it needs 24-hour gambling, millions of dollars for marketing and to end costly greyhound racing to regain profitability.

    UTGR Inc., which owns the Twin River slots parlor in Lincoln, R.I., filed for Chapter 11 bankruptcy protection Tuesday morning. Hours later, its attorneys outlined for a federal bankruptcy judge a conditional agreement between the company and the state.

    Chapter 11 bankruptcy allows a business to free itself from creditor lawsuits and reorganize its finances. The reorganization plan must be approved by a judge and by a majority of creditors.

    Twin River estimates its liabilities as between $500 million and $1 billion.

    Its video slot machines represent Rhode Island's third-largest revenue source.
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  2. Jun 25, 2009
  3. silkprint

    silkprint Dormant account

    Yup ...I work
    We go there alot. Since the redo the games have changed ..kinda miss the old machines . Now there are mostly penny and 5 cents machines . It's nice there though to go and sit for a while playing cheap slots .

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