Casino Backers Say Proposed Entertainment Center can Offset Yachting Center Job Losses

Jobs for Newport, which has been lobbying on behalf of Newport Grand employees and supporters of the proposed Monte Carlo-esque casino and entertainment center, has issued a statement that promises to save jobs and keep economic activity in Newport in the wake of the sale of the Newport Yachting Center.

Newport Harbor Corporation’s decision to pull out of the entertainment business, which included the Newport Summer Music and Comedy Series and a steady stream of top-name comedy and music acts under the tent, is a blow to the local tourism and entertainment industry.

Though the company will lease back the Mooring and Smokehouse Restaurants, the Sunset Terrace and the marina and parking operations from new owners Peregrine Group, the days of the site being a hotspot for live entertainment are unquestionably over.

Paul O’Rielly, president CEO of Newport Harbor Corporation, said in a message to employees that “there will be some job loss as a result of the closure of the concert and festival business” and promised to give all employees the chance to interview for other positions within the company.

And according to Jobs for Newport, if voters approve the ballot question asking for approval of table games at Newport Grand, the proposed Newport Entertainment Center will absorb much of the impact caused by the Newport Yachting Center sale.

“We’re prepared to be that venue, save those jobs and keep that economic activity in Newport where it belongs,” the statement reads. “In fact, our location is the perfect place to preserve this activity and save these jobs. We are prepared to host top performers right here in Newport.

“People need a world class venue for that kind of performance and Newport Grand is the right answer. Staging the concerts and events that were once held at the yachting center fits perfectly with our plans for our new entertainment center – and at the same time we can help save some of the jobs of the people who work there.”

Jobs for Newport recently touted the results of a University of Rhode Island professor’s study that concluded the proposed casino would generate $50 million in economic activity and save 200 Newport Grand jobs from elimination.

Opponents of the casino deal say the proposed casino would be a lost opportunity to drive economic prosperity through alternate means, such as an innovation center.

Related: Newport Yachting Center Sold to Peregrine Group