Davenport Submits Two Casino Proposals
The Riverboat Development Authority has three different proposals and one Memorandum of Understanding so far to build a new casino.
RDA President Mary Ellen Chamberlin also tells us that just one of the proposals is from a private developer. The city has submitted two separate proposals to the RDA, and one of them would allow the city to lease the casino.
Chamberlin would not comment on who specifically has submitted the private proposal, but the city has released both of its proposals. The city also has a Memorandum of Undertanding with Ingenus Management out of Minnesota besides the proposals. That’s who the city proposed working with in their plan to own the casino themselves in January.
Documents show the city would lease the casino from Ingenus and the developer would still keep the DCIC, or the city casino board, in tact. Documents show that board would still run the new casino.
The city has submitted a proposal to work with Pollina Real Estate out of Chicago. The company has proposed a leaseback method where the company would rent out the casino to Davenport and the RDA, according to documents. They also show the RDA would hold the gaming license for the project, not the city.
Chamberlin also told us that the RDA is not expected to meet again until mid May. No word on whether they would vote at that meeting. It has not set up its next agenda.