• Twin River settles with state over licensing dispute claims

    Updated:
    CRANSTON, R.I. (AP) - A Rhode Island casino operator has agreed to settle with the state over its claim that the company violated the terms of its business license.

    Twin River Worldwide Holdings has agreed to pay $180,000 and another $36 million in casino upgrades over three years but admits no fault.

    According to the Providence Journal , the state claims Twin River exceeded the debt ratio agreed to under its business license when the company went public and sought to refinance earlier this year.

    Twin River's president wrote in an August letter that the state reneged on an agreement to change how the debt limit was calculated after Twin River opposed a no-bid extension proposal for International Game Technology.

    The state denies this claim and Gov. Gina Raimondo's office says the licensing dispute has nothing to do with the pending IGT extension.

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    Information from: The Providence Journal, http://www.providencejournal.com

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