The Iowa Racing and Gaming Commission met Thursday and still no progress was made on the selling of Davenport’s Rhythm City Casino.
According to Davenport Mayor Bill Gluba, the Iowa Racing and Gaming Commission told the Isle of Capri and active investors that they need to get this deal done. They expressed their disappointment in the Isle of Capri’s lack of interest in Rhythm City.
The Gaming Commission is not alone in their frustrations; the city of Davenport is also very upset and looking for a progress to be made. Davenport signed an agreement with MSEG, LLC back in 2010 with hopes that the developer could reach a deal with the Isle to sell the dated Rhythm City Casino and build a land-based casino.
“It appears that it’s not necessarily going to be there. If it’s not going to be there we want to move on and see what other options we have as a city,” Mayor Gluba tells us as they consider searching for a new development company.
The mayor says the delay on this project is hurting not just the city, but the state as well.
“It cost us about $25,000 a month and the state about $6 to $10 million a year” in lost revenue.
Gluba says the lack of progress defeats the original purpose of having the casino in the city.
“[The City Council] passed this to create jobs and generate revenue for governmental entities such as the state, city, county and these non-profit groups. That’s what this gambling and lottery is all about.”
The mayor says the fight will continue until Davenport is dealt the best hand.