With VLT play down, Lincoln asks for one percent of table game revenue

With VLT play down, Lincoln asks for one percent of table game revenue

LINCOLN - Since table games came to Twin River Casino last year, Lincoln has seen a drop in revenue from the video lottery terminals.

To protect the town, local officials had previously asked that a provision be included in the law that would require the state to pay 1 percent of the table game revenue to Lincoln if VLT money was down.

After a full year of running the table games at the casino, Town Administrator T. Joseph Almond said the revenue had decreased so a letter was sent to the director of the Department of Revenue, Rosemary Booth Gallogly explaining the situation.

In the letter he requested that Gallogly accept the communication as a "request that the town receive an additional 1 percent of the net table game revenue as of July 1, 2014."

He said the town receives 1.45 percent of VLT income, which typically equals $6.8 million in revenue annually.

At the end of the 2013-2014 fiscal year however, the town had only received $6.6 million in VLT income, a shortfall of approximately $136,000.

"The state originally said we'll get more money from the VLT because more people would be going to Twin River," he said. "But we wanted to better protect ourselves, so the protection was the flippage cost."

Almond said the state estimated that patrons would still play VLT as much as before, but town officials believed that table games would ultimately affect the amount collected through VLT.

He explained that numerous conversations were held between himself and representatives from the Department of Revenue and the Rhode Island Lottery since the letter was sent on July 15.

"I've been told verbally that they agree with my position and they would be adjusting the share accordingly," he said.

He said the town gets paid quarterly and would not receive the additional 1 percent until the end of September.