Davenport's city administrator on Thursday said he hopes to have all agreements in place next month for a land-based, city-owned casino.
Craig Malin said the city plans to take those agreements to the Iowa Racing and Gaming Commission, possibly at its March 7 meeting in Johnston, Iowa, to secure its approval.
The city wants to buy Rhythm City Casino from Isle of Capri using $46 million in general obligation bonds. Three developers have submitted proposals for land-based casinos.
On Thursdsay, Mr. Malin updated the Davenport Community Improvement Corp. on the process. The DCIC board, which includes Mr. Malin, would oversee casino operations for the city.
Mr. Malin said the DCIC and the Riverboat Development Authority, which holds the gaming license, must agree on the casino's operations. The RDA's 12-member nonprofit board, which holds the casino license, has yet to approve any of Davenport's plans for a new casino.
RDA president Mary Ellen Chamberlin said the ideal situation is for the DCIC and RDA to go to the IRGC seeking an operator's license.Mr. Malin on Thursday acknowledged there are some philosophical differences among two RDA board members regarding "community" ownership of a land-based casino.
"We're still in the process of getting as much information to as many (RDA) board members as we can," Ms. Chamberlin said. "I also don't think, in my wildest dreams, it's (vote) going to be a unanimous decision."
She speculated three RDA members may vote against a gaming license agreement with the DCIC.
RDA treasurer Don Decker and RDA board member Chad Lewis have publicly expressed concerns about a city-owned casino, as well as a possible casino location in downtown Davenport. ContactedThursday, Mr. Decker said he opposes the city's plan because the financial risk is too great.
"I'm still looking for a 'no' vote to take the city out of this package," he said. "As long as the Isle of Capri has this silly $46 million locked in as a guarantee from the city, the Isle of Capri is not going to talk to anybody (potential casino developers).
"I'm asking members of the RDA, do you have the guts enough to vote 'yes' to put the citizens of Davenport at risk for any kind of a loss? Are you willing to do that?" Mr. Decker said. "At this point, I haven't seen nothing from the city that makes me feel any different."
Also on Thursday, Mr. Malin told DCIC members that Gary Buettner, a former chief financial officer of Jumer's Hotel and Casino, has been hired by the city to help a 17-member committee compare three casino proposals.
Today is Monday, March 10, the 69th day of 2014. There are 296 days left in the year. 1864 -- 150 years ago: Numerous counterfeiters are around, taking advantage of the influx of currency to pass their worthless trash. 1889 -- 125 years ago: J.J. Reimers, secretary and treasurer of the Rock Island Lumber and Manufacturing Co., on behalf of that firm, contributed $500 toward construction of a new Methodist church. 1914 -- 100 years ago: Samuel Ryerson, county recorder, was re-elected president of the 19th District of Knights of Pythias. 1939 -- 75 years ago: Three condemnation suits have been filed by the city of Rock Island to acquire property needed for an approach to the Rock Island-Davenport bridge, which has been under construction since March 6. 1964 -- 50 years ago: Plans for an eight-story Sheraton Inn in downtown Rock Island were announced today at a luncheon meeting at the Gay Nineties sponsored by the Rock Island Chamber of Commerce. Cost of the structure is estimated at $2.5 million. 1989 -- 25 years ago: Representatives of the Hardee's Golf Classic and tournament sponsor Hardee's Food Systems may meet next week with PGA Tour Commissioner Deane Beman to discuss a possible change in the tournament dates.