Contractor places lien on Twin River slot parlor
12:11 PM Fri, Mar 14, 2008 | Permalink
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Dimeo Construction Co. put a lien on the Twin River slot parlor in a move to secure $5.6 million for work the Providence company has done on the Lincoln property, according to a municipal filing. Dimeo filed the lien Wednesday in Lincoln Town Hall. The filing follows disclosure that UTGR Inc., the company that owns Twin River, missed a loan payment to a lender. Due last week, the missed payment triggered a ratings downgrade on UTGR by the Standard & Poor's Corp. ratings unit. UTGR has entered into a pact with its lenders, known as a forbearance agreement, that allows the company to work out payment plans with its lenders and creditors such as Dimeo. UTGR's owners, BLB Investors, bought the slot parlor, then known as Lincoln Park, for $435 million in 2005. It then launched a $225 million renovation project. Dimeo was supposed to be paid $171 million for its work at the slot parlor, since renamed Twin River. The lien covers the unpaid balance. -- Journal staff writer Paul Grimaldi 
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Dimeo Construction has to put a lien on Twin Rivers! And the Narragansetts wonder why Rhode Islanders won't help pay for their casino?
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Too bad for Dimeo. How about all the money that they do not pay their subs. Their subs cannot lien, they have to sit and wait for Dimeo to pay at their pleasure!!!!!!!!!!!!!!
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Dimeo...Smart move! It is for certain that UTGR Inc is getting their share of RI money from Twin Rivers. If UTGR Inc wants to claim that business is down because of competion, they must of been doing business on a toilet for 2 years. I would never go to an establishment that just gave over 200 Rhode Islanders their pink slips (great management huh). The place is going to fail because of poor marketing and the poor service the facility is really famous for. Rhode Islanders! Do you think you are going to win anything there now? Dimeo is just the beginning!!
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they make a killing up there no reason they shouldn't pay
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Unbelievable-this is Carcieri's casino that's in arrears--and he stomped on the Narragansett's while backdooring Twin Rivers---now who's looking foolish? What a disaster this administration has been. Now Carcieri's hoping a new landfill scandal will deflect attention.
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Twin River's gross income is usually around $330million, so their more than likely not going to keep ratings up, and pay their debt. They might as well just start a bake sale!
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Twin Rivers are on the verge of bankruptcy. Mark my words Twin Rivers will be closed by 2009. This is not a casino it a small gambling Establishment with nothing really resembling a real casino.
R.R.H
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Why do I feel that taxpayers will pay for this somehow?
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Tin River can't close fast enough to suit me. These gambling joints are nothing but money sucker-uppers that drain the lifeblood out of people and the local economy.
When the whole place finally shuts down it will make a swell housing complex for the elderly and homeless from whom it siphoned millions.
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if twin river can't pay back the loan who's going to do it the tax payer?
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the place will fail because it is a giant vacuum cleaner sucking the cash out of the people that can least afford it..go there some time and look around at the class of people that are there....dirty clothes broken down shoes...it will soon be a giant facility for the department of welfare....food prices are outragous...no free beverage service (oh soda only)...and if you have ever needed an attendant for a "bill jam" bring your pillow...i once had to receive a hand payout and it took fifty seven minutes to get it. now i know why they had to go to the redemption center with cans..
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What do you expect from a Govenor whose philosphy is that there's no wrongdoing in employees being lazy and not doing their jobs and breaking all rules and procedures whilst in the non-performance of their work. In other words, there's no wrongdoing in ripping off the taxpayers. Just another normal corrupt day in Rogues Isle. Twin Rivers is just a capstone failure culminating another puppet Governor's folly of an administration.
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This is just part of their plan to making a case to allow them to open for 24 hours a day. Stay tuned...
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