ED Magedson – Founder
Twin River Casino100 Twin River Rd Lincoln, Rhode Island United States of America
Twin River, the slot parlor and greyhound racing track in Lincoln, has been plagued by financial difficulties for much of this year, first missing a payment to creditors, then seeking concessions from the state.
A study claiming that Rhode Island slot machine payouts are so far below the industry average as to make gambling in the Ocean State a sucker's bet are being disputed by that state's Department of Revenue.
The UMD Center for Policy Analysis reported over the weekend that only about 73 percent of the amount wagered at Twin River and Newport Grand was returned to patrons as winnings, which center Director Clyde W. Barrow called "a surprisingly low payout rate."
This was back in October 2008.
Today October 28th 2009.
It has been brought to my attention that it has move to the outrages lower payout from an inside gaming controler. [continued below]....
I was told 173million was made and only 1.7 million was paid out.in 2009
"While Twin River and Newport Grand management may find such a low payout percentage beneficial to their bottom line, it is puzzling that Rhode Island state regulators allow local patrons mostly from their own state to be subject to such a low payout rate."
Stay clear of Twin Rivers at all costs.
You can not win, and that is now a fact!
This report was posted on Ripoff Report on 10/28/2009 07:16 AM and is a permanent record located here: http://www.ripoffreport.com/r/Twin-River-Casino/Lincoln-Rhode-Island-028650-4835/Twin-River-Casino-twinriver-casino-Twin-rivers-payout-percent-are-the-lowest-in-the-countr-516075. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.
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