Twin River has reached an agreement with lenders that would result in them taking over the facility.  The consensual bankruptcy agreement has certain  stipulations, such as 24/7 gambling and an end to dog racing, which loses money and requires subsidies.  Since Newport Grand was allowed to drop Jai Alai a few years ago, this shouldn't be a big deal.  But then again, the General Assembly doesn't always make sense.

     The Senate voted 25 to 10 to allow 24/7 gambling and to require the continuation of dog racing.  The dog racing requirement means that a money-losing activity will continue, a consensual bankruptcy might be impossible, and the state might wind up losing millions of dollars.  According to Director of Administration Gary Sasse:


"To the extent that the enactment of the legislation were to interfere with the completion of the restructuring agreement, the legislation could actually result in the BLB bankruptcy filing becoming a protracted, free-fall proceeding - as opposed to a consensual one - which could result in the state incurring millions of dollars in related expenses, as well as an estimated decrease of 10 percent or more in revenues to the state from the facility." 


     Ten percent of revenues would mean the loss of approximately $25 million.  That number could rise, along with additional expenses.  As you can tell from the vote, most members of Rhode Island's Senate don't seem to care.  Their 25 to 10 vote is evidence of that.  I wonder if they would be this supportive if the jobs weren't unionized, and the Senator who sponsored the legislation, Frank Ciccone, wasn't a manager for a union?

     Here is a list of the Senators from the Providence Journal, along with how they voted on this legislation.  As always, keep this in mind when you vote in November 2010. 


Voting  Yes

Bates, R-Barrington
Ciccone, D-Providence
Connors, D-Cumberland
Crowley, D-Central Falls
DaPonte, D-East Providence
DeVall, D-East Providence
Doyle, D-Pawtucket
Felag, D-Warren
Fogarty, D-Glocester
Gallo, D-Cranston
Goodwin, D-Providence
Jabour, D-Providence
Lanzi, D-Cranston
Levesque, D-Portsmouth
Lynch, D-Warwick
Maselli, D-Johnston
McBurney, D-Pawtucket
McCaffrey, D-Warwick
Miller, D-Cranston
Perry, D-Providence
Picard, D-Woonsocket
Pichardo, D-Providence
Ruggerio, D-Providence
Sosnowski, D-South Kingstown
Tassoni, D-Smithfield

Voting No

Algiere, R-Westerly
Blais, R-Coventry
Cote, D-Woonsocket
DiPalma, D-Middletown
Lenihan, D-East Greenwich
Maher, R-Exeter
Metts, D-Providence
O'Neill, I-Lincoln
Pinga, D-West Warwick
Sheehan, D-North Kingstown

Not voting
Paiva Weed, D-Newport
Raptakis, D-Coventry
Walaska, D-Warwick

SOURCE: Senate roll call