31, 2020, a depreciation of 6.5% from its previously assessed value, as reported by Yogonet last month. The Tiverton property was last assessed at $60,476,900 on Dec. Even when they were allowed to re-open, they were under significant capacity and hours restrictions for months. The casinos were fully shuttered for weeks in spring of 2020 and again during the winter of 2020. However, the lawsuits are already filed, and they claim the towns failed to properly take into account the hits the casinos took from COVID-19 closures in 2020, leading to assessments that were illegally high into 202, which depreciated the property’s value through 'economic obsolescence'. The casinos expect to reach a deal outside the courts that would “reflect the realities of the COVID-19 restrictions and closures,” Doyle said. Bally’s Twin River Lincoln Casino Resort filed a similar suit against the town of Lincoln in February.Īccording to a spokeswoman for Bally’s Corporation cited by the newspaper, the company is currently in an ongoing process to reach tax stabilization agreements with both towns. Bally’s two casinos in Rhode Island have sued their respective host jurisdictions seeking tax reductions due to pandemic-related closures.Įarlier this month, Bally’s Tiverton Casino & Hotel filed a lawsuit against the town of Tiverton in state Superior Court alleging it is being overtaxed, as reported by Boston Globe.
