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Rhythm City Casino sale falls apart

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The pending sale of the Rhythm City Casino gaming boat has fallen apart.

Davenport Alderman Gene Meeker confirms to News 8 that the update was given to the Iowa Racing and Gaming Commission at a meeting this morning.

Meeker says the update was brief, and it’s unclear what happened to end the sale. He believes the sale price would have been between 40 and 50 million dollars.

Meeker says the city remains anxious to get the casino off the riverfront and under new ownership but understands why there might not be “a line of buyers to buy an old boat”.