Buried under a mountain of debt, Rhode Island’s struggling Twin River slot complex says it will file for bankruptcy at the end of June unless it can win sufficient financial concessions from its lenders and state officials.The 4,750 video slot complex, owned by a high-powered investment group that includes international gambling tycoon Sol Kerzner, appears to be running out of options after more than a year of high-stakes negotiations....
The impending bankruptcy filing also puts an end to months of speculation that state officials might orchestrate a takeover of the facility itself.
“Absent an agreement, Twin River will have little choice but to file for bankruptcy on or soon after June 26, 2009,” said racino spokeswoman Patti Doyle in a statement.
Tuesday, June 16, 2009
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Two or three of these in Massachusetts is just what we need: