Rhode Island Gambling Parlor Shuts Down Greyhound Racing

It looks like another gambling establishment in the US is headed for financial disaster thanks to the economy. Twin River in Rhode Island has announced that they will no longer be holding greyhound races after May 31st.

The move is thought to be part of preparations to enter into bankruptcy protection. Twin River has been struggling financially since the economy has faltered, and they have not been able to regroup.

If the racing is shut down, forty more people would become unemployed in Rhode Island. The state had been in talks with Twin River about a takeover, but last week those negotiations fell apart.

"It is just another example of how the economy is becoming too difficult to maneuver through for any business," said observer Walter Palert, "especially in the casino and racing industries."

The casino industry had long been rumored to be immune from any recessions. This time around, however, it is one of the industries that is being hit the hardest. Las Vegas and Atlantic City casinos have had many consecutive months of declining revenue.

The challenge with this recession for casino owners is dealing with the competition. Las Vegas and AC used to be the only places in the country where people could go for casino gambling. Now, many states have changed their laws to allow casino gambling, meaning people no longer have to travel far to find a casino.

May 10, 2009
Posted By Terry Goodwin
Staff Editor, CasinoGamblingWeb.com
Submit News!