Twin-River LLC Cashes In Newport Grand For $10 Million

TIVERTON, RI—Twin Rivers LLC has sold the Newport Grand Casino to the Carpionato Group, based in Johnston. The price was just over $10 million. The Carpionato Group is the same company that bought the Benny’s properties after the store chain went out of business last year.

The company confirmed the deal was just for the building and 23.5 acres of land. The casino will move to Twin River Tiverton, but that date has not yet been determined. The Tiverton casino is still under construction.

"We're pleased that that the new owner of the property intends to work collaboratively with the City and additional stakeholders in ensuring the highest use of this property, which was always our hope when we decided to try and move the existing Newport Grand operations to Tiverton," said John E. Taylor, Jr., chairman of Twin River Management Group. "We obviously will continue to operate Newport Grand until our new casino is ready to open, which we anticipate occurring in late summer/early fall."

File Photo: The day the 'Slots' sign came down.