State ends talks with Twin River

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.