Twin River wants deal with RI by Nov.

PROVIDENCE, R.I. (WPRI) - State officials and Twin River want a tentative deal laying out how much tax revenue Rhode Island will collect from expanded gambling to be in place before November, when voters will decide whether to allow table games at the facility.

Negotiations between the state and Twin River are still “in the very early stages,” John Taylor, chairman of the Lincoln facility’s board of directors, told a Greater Providence Chamber of Commerce forum on Tuesday. Twin River wants voters to know how much the state would receive before they go to the polls on Nov. 6.

Richard Licht, the Chafee administration’s director of administration, said he’s “relatively optimistic” Rhode Island voters will approve the referendum question allowing table games despite their rejection of similar proposals in 1994 and 2006. “I don’t think you’re going to see the same political atmosphere,” Licht said.

Licht declined to say what percentage of table-game revenue he thinks the state should get, noting legislative leaders will also play a role in the final agreement. Rhode Island gets 61% of the money put into video lottery terminals at Twin River and Newport Grand, and all forms of gambling are projected to contribute $377 million to the state budget in 2012-13, the third-biggest source of revenue.

“I think the state will ultimately be reasonable,” Licht said, considering that gambling is “not driving the economy – it’s feeding state government.”

Massachusetts is moving relatively slowly in awarding licenses for up to three resort casinos and one slot parlor that were recently authorized. Officials there made the final appointments to Massachusetts’ new gambling commission on Tuesday.

“It will be a full-time job monitoring the casino-slot parlor derby in Massachusetts,” said Peter Howe, a reporter at New England Cable News. “It will likely be an issue later rather than sooner for you here [in Rhode Island].” He expressed skepticism about whether New England Patriots owner Robert Kraft and his partners will actually win approval for a full resort casino in Foxboro.

Taylor and Licht both said Twin River and Newport Grand will be able to compete with existing facilities in Connecticut and new ones in Massachusetts. ”Rhode Island has an advantage,” Licht said. “They’re up and running. There’s a great product in Lincoln and Newport, and we’re dependent on it.”

Taylor said Twin River’s revenue rose 10.8% in February after posting a 9.3% increase in 2011, while Foxwoods and Mohegan Sun both reported declines. “We can be competitive,” he said. The board’s strategy is for the Lincoln facility to focus on being a “convenience casino” that builds intimate relationships with frequent visitors, and to continue to pay down roughly $300 million in debt it carried out of bankruptcy.

Ted Nesi ( tnesi@wpri.com ) covers politics and the economy for WPRI.com and writes the Nesi's Notes blog. Follow him on Twitter: @tednesi