It looks like one word: Relaxanhavefunat.

In those days Newport was mobbed up pretty thick:

Glenn Schmidt's Playtorium opened on 5th Street in 1951 and featured a casino, restaurant, cocktail bar and bowling alley. It was later moved into the neighboring Snax Bar and became one of Newport's best-known gambling dens. An underground tunnel connected the Playtorium to the Snax Bar. Detective Jack Thiem raided the building, leading to its closure in 1959. It is now the Syndicate Night Club.