In a statement, Twin River said Wednesday that it has submitted to state leaders, in partnership with Camelot Lottery Systems, a plan “that, among other things, provides 1,100 jobs backed by a $100 million guarantee, saves the state and its taxpayers approximately $500 million in fees, invests $75 million in development and improvements including a new 50,000 square foot corporate headquarters in the state, and would limit the control of the casino slot floor to the current state law of 50 percent.”
Camelot, with offices in four countries, has its U.S. base in Chicago.
IGT Chairman Robert Vincent called Twin River’s new partnership “nothing more than an attempt to distract lawmakers as we’re going in to the legislative process.”
Vincent said Camelot is not a technology provider and lacks expertise to do the work being discussed in Rhode Island. He said IGT’s payroll in Rhode Island tops $110 million, and that the rival firms could not top that economic impact for the state.
Gov. Gina Raimondo has supported the idea of extending IGT’s contract for 20 years, until 2043, on a no-bid basis. She calls that a win for the state, because, Raimondo has said, it includes a $25 million payment from IGT, would maintain about 1,000 IGT jobs in the state and would obligate the company to update its gambling technology.”
House Speaker Nicholas Mattiello was non-committal in a statement after Twin River unveiled its new partnership.
“We just received the letter from Twin River and Camelot and we have not yet studied or analyzed it,” Mattiello said. “The House Finance Committee will be conducting an open and thorough process and will give Twin River and Camelot the opportunity to testify should they want to.”
The outcome of this battle has big stakes since gambling is Rhode Island’s third-largest revenue source.
(Disclosure: The Public’s Radio gets some financial support from IGT.)
That revenue has flagged in recent months in the face of competition from the new Encore casino near Boston.
Raimondo has resisted calls to use competitive bidding to determine which company operates the bulk of Rhode Island’s gambling services.
Marc Crisafulli, executive vice president of Twin River Worldwide, contends open bidding would benefit the state. “We believed all along that Rhode Island would secure a much better deal through a competitive bid process and today’s bid submittal demonstrates that.”
The Senate plans five hearings, starting Thursday, and the House two, on the proposed IGT extension.
It’s unclear when lawmakers may vote on a plan, but it appears unlikely to happen until some time next year.
RI Republicans have filed an ethics complaint related to how Raimondo selected IGT’s former chairman, Don Sweitzer, who remains a lobbyist for the company, to a role as treasurer of the Democratic Governors Association, a group she currently chairs.
This story has been updated.