Carcieri: RI won’t bail out Twin River

PROVIDENCE, R.I. (AP) - Gov. Donald Carcieri says the owners of the financially troubled Twin River dog track and slot parlor should not expect any breaks from the state.

Carcieri said Tuesday he would oppose any "bailout" bid that involved lowering the state's potential $254-million share of the video slot revenue at the facility. Rhode Island gets about 61 cents of every one dollar lost in the slots.

Carcieri says Twin River's financial problems are of its own making.

Two agencies have downgraded Twin River's credit rating in the past few days, including Moody's, which warned of a "high probability of bankruptcy." Moody's says the downgrade affects $565 million in debt.

However, Carcieri says he would not be opposed if the facility tried to drop unprofitable greyhound racing.

(Copyright 2008 by The Associated Press.  All Rights Reserved.)