For practical purposes, the Twin River casinos are government run, with the state contracting its monopoly of the gambling market to the private company.  However, it’s worth remember from time to time that isn’t how the market sees the business:

In just over three months as a public company, the owner of the Tiverton Casino Hotel in Rhode Island has rapidly gained a following in the hedge fund community. Currently, 10 hedge funds own shares of Twin River, a massive amount for a $1.22 billion company that does not have two full quarters of trading under its belt. …

Twin River owns the only two casinos in the Ocean State, giving it a competitive advantage there. While a new regional threat is emerging in the form of Wynn’s recently opened Encore Boston Harbor, TRWH has some avenues for stemming the rivalry, including a different target demographic and legalized sports betting.

The entire arrangement has long cried for a thorough public discussion of this unique business model, so as to understand Rhode Islanders’ perspective on having a government that has essentially displaced the mob.  The interface with the investment markets adds another dimension.  Because, as the linked article highlights, the monopoly standing of Twin River is a marketable financial asset, should state and local taxpayers continue to benefit only by our percentage of the gambling profits?