Harrah's to be Owner of Rhode Island Tribal Casino

RHODE ISLAND – As reported by the Providence Journal: "Many things have changed since the Narragansett Indians began their decade-long campaign to have a casino of their own, including the size and location.

"But one thing remained the same while the Narragansetts' partners changed and the proposed site leaped from West Greenwich to Providence to West Warwick: the tribe always had a 70-percent ownership share in their long-sought casino.

"…Gary Loveman, president and CEO of Harrah's Entertainment, told a Senate committee last week that his Las Vegas-based company would own the proposed West Warwick casino.

"…When asked yesterday why the Narragansetts had agreed to let Harrah's own what has always been pitched as 'the Narragansett Indian casino,' their longtime lobbyist Guy Dufault said: to reduce their own financial risk.

"With Harrah's proposing a much bigger and more expensive hotel and casino complex than the tribe first envisioned, Dufault said the Narragansetts decided it would be 'better to be a participating partner in the marketing of the facility, and get the fee up front with the right to buy it out after the 19th year.'…"