Former Jumer's CFO hired to help Davenport with casino plan

Posted Online: Dec. 11, 2012, 7:08 pm
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By Stephen Elliott,
Davenport has hired a former chief financial officer of Jumer's Hotel and Casino to help with a city-owned land-based casino proposal.

Davenport city administrator Craig Malin said the city has hired Gary Buettner, a former executive vice president at Jumer's. Davenport Ald. Raymond Ambrose, 4th Ward, said Mr. Buettner comes with strong credentials and recommendations and will be paid $150 an hour.

Ald. Ambrose said Davenport's casino plan has drawn much attention. Davenport has signed an asset purchase term sheet to buy Rhythm City Casino from Isle of Capri for $46 million. To cover the cost, the city would issue $48 million in bonds to be paid off over 20 years at a cost of $3.5 million per year.

The city is seeking requests for proposals from developers on the project by Dec. 20.

"The cost of government continues to rise," Ald. Ambrose said. "It's almost out of control.

"The city of Davenport is in a unique opportunity, probably unlike any in the U.S., to diversify its revenue stream (with a new casino)," he said. "I know a lot of people are a little skeptical. We're working hard to answer those questions to reassure people we're going to try and remove any risk we can if we move forward on this."

The Riverboat Development Authority, which holds Rhythm City Casino's gambling license, is scheduled to meet at 4 p.m. Friday at New Ventures Center, 331 W. Third St., Davenport, to discuss its members' questions and concerns, according to RDA president Mary Ellen Chamberlin.


Local events heading

  Today is Thursday, July 31, the 212th day of 2014. There are 153 days left in the year.

1864 -- 150 years ago: A corps of surgeons now occupies the new hospital quarters at the Garrison Hospital on the Rock Island Arsenal. A fence has been installed to enclose the prison hospital.
1889 -- 125 years ago: B. Winter has let a contract to Christ Schreiner for a two story brick building with a double store front on the south side of 3rd Avenue just west of 17th Street. The estimated cost was $4,500.
1914 -- 100 years ago: Germany sent simultaneous ultimatums to Russia and France, demanding that Russia suspend mobilization within 12 hours and demanding that France inform Germany within 18 hours. In the case of war between Germany and Russia, France would remain neutral.
1939 -- 75 years ago: Civil service offices at the post office and the Rock Island Arsenal were swamped as more than 700 youths sought 15 machinist apprenticeships at the Arsenal.
1964 -- 50 years ago: Last night, American Legion Post 246 in Moline figuratively handed over the trousers to a female ex-Marine and petticoat rule began. Olga Swanson, of Moline, was installed as the first woman commander of the post .
1989 -- 25 years ago: The Illinois Quad City Civic Center captured the excitement and interest of a convention of auditorium managers this weekend in Reno, Nev. Bill Adams, civic center authority chairman, said the 10,000-seat arena planned for downtown Moline has caught the eye of construction firms, suppliers, management teams and concession groups.

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