Saying that Twin River is facing financial problems is an under statement.  They have $559 million in loans, contractors have placed liens on the property, their debt has been rated a D, and there is speculation they may file for bankruptcy.  Things are bad for Twin River and they say they need help. 

     There are a few things they can do to raise revenue, which the state should go along with.  First, Twin River ordered virtual roulette games and are looking into adding virtual poker.  They have also mentioned extending free play and working out a deal to offer fewer greyhound races.  All three make sense and should be allowed, but there is one possibility that should be shot down immediately: Reducing the amount the owners pay to the State of Rhode Island.

     BLB, the owners of Twin River, purchased the property and embarked on an ambitious renovation.  From what we're seeing now, the renovations were obviously too ambitious.  The owners agreed to pay the state a rate of more than 60%.  It's high, but they agreed to it.  Allowing Twin River to reduce their payments makes bad financial sense and sends a bad message to businesses.  The State should not be asked to bail out a private company, no matter how much they contribute to the local economy.  BLB did not specifically say they would look for a payment reduction, but they also refused to rule out the possibility. 

     If BLB does propose reducing their rate, Governor Carcieri and the General Assembly should refuse.  Allowing this company to reneg on an agreement would reduce revenues and place an additional burden on tax payers.  We would be forced to pay for BLB's bad decisions and poor management.