Presented by Diane Hurley

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• Presented by Diane Hurley
• April 7, 2005

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Newport Grand

• A family-run business since 1976
• 200 employees
• Community partner
• Responsible corporate entity

Diane S. Hurley April 7, 2005
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Partner to State of Rhode Island

• Provided 281 million in VLT revenue since
  Sept. 1992

Diane S. Hurley April 7, 2005
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Newport A World Class Resort Destination

• Newport is a premier destination

Diane S. Hurley April 7, 2005
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Newport A World Class Resort Destination

• 3.5 million annual visitors
• 3,000 hotel rooms
• 15 increase in hotel rooms in past five years
• 185 average hotel room rate
• 90,000 sq. ft. convention/meeting space
• Growing year-round destination

Diane S. Hurley April 7, 2005
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Newport Grand Yesterday
Diane S. Hurley April 7, 2005
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Newport Grand Today
Diane S. Hurley April 7, 2005
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Newport Grand The Future
Diane S. Hurley April 7, 2005
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Newport Grand The Vision

• 20 million capital investment
• 200 additional jobs
• Average salary (with benefits, excluding tips) -
  38,000
• Complements Newports offerings
• Consistent with Newports North End plan
• Commitment to work with local vendors, especially
  building trades

Diane S. Hurley April 7, 2005
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Newport Grand The Vision

• 86-room boutique hotel
• 30,000 sq. ft. of additional gaming, foodservice,
  entertainment space
• Streetscape improvements
• Utilizes existing footprint
• No infrastructure changes

Diane S. Hurley April 7, 2005
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Newport Grand The Vision

• Room for an additional
• 800 VLTs

7,500 SQ. FT.
7,500 SQ. FT.
Diane S. Hurley April 7, 2005
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The Need for Tax Stabilization

• Tax stabilization provides incentive for
  significant capital investment
• Allows for investment in player-rewards program
• Offensive move against MA tracks
• Captures revenues from CT casinos

Diane S. Hurley April 7, 2005
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Commitment to Rhode Island

• Continued investment in facility over life of
  contract
• Support workforce training program at
  CCRI-Newport
• Maintain concierge service to Newport-area
  attractions
• Incorporate rewards program with Newport-area
  attractions

Diane S. Hurley April 7, 2005
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Commitment to Rhode Island
Will provide 877 million in gaming tax revenue
over 10 years
Based on 10-year projections
Diane S. Hurley April 7, 2005
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Commitment to Rhode Island

• Increased Tax Revenue to Rhode Island
  (2006-2015)
• 877 million in gaming tax revenue
• 6.5 million in sales and use taxes
• 1.2 million in hotel taxes
• 18.8 million income, payroll and all additional
  taxes to state

Based on 10-year projections
Diane S. Hurley April 7, 2005
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Commitment to Newport

• Increased tax revenue for Newport
  (2006-2015)
• 17.3 million in gaming tax revenue (at 1.25)
• .24 million in hotel taxes
• .36 million in meals taxes
• 5.18 million in property taxes
• 2.5 million in all additional taxes

Based on 10-year projections
Diane S. Hurley April 7, 2005
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