Twin River officials want state to slash its cut

PROVIDENCE, R.I. (AP) - The owners of Twin River slot parlors want to pay the state $500 million in exchange for slicing its share of revenues from 61.45 percent to 25 percent.

The Providence Journal has reported that Twin River argues the new arrangement would help it ease its own financial crisis.

A spokesman says the video slot parlor has missed loan payments and is in danger of falling into bankruptcy.

Twin River representatives have met with House Speaker William Murphy and offered the half a billion dollars if the state would reduce its cut of the slot revenue.

Murphy said the proposal will only be considered after officials fist determine how much the state will lose over the long term.

He says the House will consider the issue if a favorable proposal is presented and it is endorsed by the governor as well as the Senate.