2008 May 05 Gambling News, Events and Happenings

PROVIDENCE While lawmakers are counting on round-the-clock gambling on weekends and holidays at Twin River and Newport Grand to raise upward of $14 million in new money for the cash-strapped state, Governor Carcieri has vetoed the legislation.

Citing timing and events beyond their control, two Lake Oswego businessmen said they will not pursue signature gathering to place a Wood Village casino proposal before voters in the November election.

The gambling center seemed immune to the economic swings of the rest of the country. But the city built on excess is seeing a troubling sign: moderation.

(RTTNews) - Casino operator Tropicana Entertainment LLC, an indirect subsidiary of privately held Tropicana Casinos and Resorts, announced the filing of voluntary petitions for bankruptcy. Tropicana specified that nine of the 11 properties owned directly by it are included in the petitions.

A CROWN prosecutor who stole $200,000 in cash seized mostly from drug dealers had a gambling addiction, primarily Keno, a court has heard.

Rhode Island’s governor, Don Carcieri, vetoes a bill letting the state’s two gambling venues, Twin River in Lincoln and Newport Grand in Newport, to stay open around the around the clock on weekends and holidays.

Tropicana Entertainment LLC, owner of one of Las Vegas’ most famous casinos, has filed for bankruptcy but said operations will remain static as courts determine the company’s fate.

The state budget is balanced this year but next year won’t be so easy. The souring economy will have lawmakers looking for new sources of revenue, and they may have found one in the form of slot machines in Queens. CBS 2 HD has learned that the idea may be on the fast track.

Eds: CORRECTS that state would get 28 percent for over $250 million and that Crawford County gets 1 percent. Moving on general news and financial services.