Caprio wants state takeover of Twin River

LINCOLN (WPRI) - State Treasurer Frank Caprio says he thinks the state should consider taking over the troubled Twin River Gaming Center.

Yet another credit rating agency, Moody's, came out last week and downgraded Twin River saying there was a "high probability" the business would need to declare bankrupcy.

Caprio said taking over the track and slot business could make the state a profit it they bought it for the right price and then sold it after the economy improved.

The treasurer also added that any sale of Twin River would not change the way the state lottery already gets revenue from Twin River.