Rhode Island Casino Approved To Operate Around The Clock
The Tiverton Casino Resort will remain a 24-hour operation thanks to residents of the Rhode Island town in which it is based.
There were no objections from local residents during a public hearing on Aug. 26, at which the casino sought to permanently extend its round-the-clock operation. The casino will still need to renew its license annually, however, and potentially face hearings in the event of any perceived violations.
Major Win for Rhode Island’s Smaller Casino
The decision is a rare moment of Tiverton stealing the spotlight from the larger Twin River casino. Opened just over a year ago, Tiverton was granted its license following a statewide referendum in which it only just squeaked past the post with a margin of just 367 votes according to a report by the New York Times.
In the 12 months since, Tiverton Casino Hotel has gone from strength to strength and now employs more than 600 people. According to a report by
The addition of the being open 24/7 is certainly a risk if customers don’t come by during late night/early morning hours. But Tiverton Casino is banking on extended hours to help drive revenue higher as it strives to catch up to Twin River.
Encore Boston Harbor Cut Deeper Than Expected
The 21 acre casino, located just off of Route 24 near the state line with Fall River, hosts a selection of slots, table games and a newly-opened sportsbook.
Twin River, the company that owns Tiverton, recently posted second quarter financial results that show gross gaming revenue increased 26.5% to $228.0 million. But the numbers also show that Tiverton faces increased competition from rival operations.
Twin River's flagship casino in Lincoln is being impacted by the opening of Wynn’s Encore Boston Harbor in June.
"The new competition had a greater than expected negative impact on our table games at Lincoln,” President and Chief Executive Officer George Papanier said in a release. However the good news is that Tiverton is continuing to perform.
“We are pleased with the lack of impact we have experienced at Tiverton where gaming volumes in July were relatively flat to our recent monthly run-rate which we view as a positive,” Papanier said. “When we conceived and planned the Tiverton property, the expectation was for it to offset the impact of new competition so that operating income in the market would be flat to Lincoln alone."
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