Projo Biz Blog

Despite Twin River's push to finish financial negotiations with lenders by the end of the work week, the owners of the Lincoln gambling parlor had no announcements today.

The slot parlor's owner, UTGR Inc., has negotiated for months with its lenders to rework $577 million in financing. The company said earlier this week that it was "pushing hard" to conclude negotiations by Friday.

Twin River's spokeswoman Patti Doyle announced in an e-mail late this afternoon: "Just got word there will be no announcement today -- hopefully on Monday."

State officials have hired two consultants to advise them on operations at Twin River.

Gambling is the third-largest source of state revenues.

Negotiations over Twin River's debts came after the slot parlor's owners missed a loan payment in March.

-- Journal staff writer Mark Arsenault

Related story: Twin River under R.I. scrutiny

 Tags  gambling lenders Lincoln Twin River

Comments

kin asdar said:

The slot parlor's owner, UTGR Inc., has negotiated for months with its lenders to rework $577 million in financing.http//www.rockyslots.com says that it is a big business.Twin River is their place

Link | October 9, 2008 9:47 AM
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