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twitterPanel passes bill that would allow Lincoln Park’s sale
Wednesday, May 25, 2005 | 9:25 a.m.
PROVIDENCE, R.I. -- A Senate committee on Tuesday passed a bill that would pave the way for the sale of Lincoln Park gambling center and dog track to an investor.
The legislation also includes a gambling revenue-sharing requirement that could impact a proposal to build a new casino in West Warwick.
The bill would allow BLB Investors to enter into a contract with the state through the Lottery Commission, said Senate spokesman Greg Pare.
Under the bill, the state would get 58 percent from any video lottery terminals added at the park. The state would retain a minimum 60.4 percent from revenues from the VLTs already at the facility.
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