Updated: Monday, 27 Apr 2009, 6:41 PM EDT
Published : Monday, 27 Apr 2009, 6:41 PM EDT
LINCOLN, R.I. (WPRI) - A financial rescue plan for Twin River in Lincoln has fallen through.
The Carcieri administration has broken off months of behind-the-scenes negotiations with the owners over a financial rescue plan and a potential state takeover of the slot parlor.
Given the facility's year long financial struggle, the gaming venue may seek protection from its creditors with a filing in U.S. Bankruptcy Court.
Twin River's lobbyists at the State House, who include former Senate minority leader Robert Goldberg, would apprise key lawmakers.
Gambling is the third-largest source of state revenue.
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