NEWPORT, R.I. (AP) - The site of the Newport Grand Casino has been sold to a Rhode Island-based developer who plans to demolish the building after the casino is moved to Tiverton.

The Newport Daily News reports that a deed filed Tuesday shows The Carpionato Group bought the building housing the casino and the 23.5-acre property for $10.15 million.

Carpionato Group COO Kelly MacArthur Coates says the building will be torn down “in all likelihood.” He says the company’s plans could include stores, restaurants, offices or a hotel.

CEO Alfred Carpionato described the purchase as a rare opportunity to reimagine the area as “the gateway into Newport.”

Casino owner Twin River is building a new casino in Tiverton that is expected to open by early fall. The Newport Grand will stay open until then.

___

Information from: The Newport Daily News.

Sign up for Daily Newsletters Manage Newsletters

Copyright © 2020 The Washington Times, LLC.