Teddy Horan
Teddy Horan
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The Big Ticket

1540 WADK.com Updates

City Council Not Thrilled With Host Agreement

The Newport City Council is taking a close look at the host city agreement proposed by the casino developers.  The agreement proposes that city receive $1.5 million dollars a year or 1.45 percent per year of the slot machine revenue, whichever is greater for 6 years. All that depends on the approval of adding table games in November. According to the Daily News, some of the council members thought the agreement did not offer enough money to the city for the long haul.  If the host agreement is rejected and the addition of table games is approved by voters, it could jeopardize a guarantee of revenue for the city. The host agreement will be presented to the City Council at the September 24th meeting.



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