The Newport Grand gambling parlor, one of two slot machine halls in Rhode Island, which are sponsored by the state, is considering selling its casino in order to finance expansion of its business. The company, who had a deal with Gov. Don Carcieri, got an approval to add 800 slot machines to their casino if they invest 20 million dollars on expanding to a hotel with a new restaurant and a bar, and employing 360 employees in a full time job, (Now occupying 175 employees). The company owners are thinking of selling the casino to finance the expansion.
Diane Hurley, Newport Grand Chief Executive Officer, said that they consulted their financial advisors, who advised them to check any option, including the 20 million dollars investment ... a joint venture or a potential sale (quote). She says that up until now, they didnt come up with any decision.
The spokesman of Gov. Don Carcieri, said that Carcieri is not aware to Newport Grand selling the casino, and that they will check carefully the credentials of the buyers before approving the casino license.
