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 Saturday, Dec. 7, the 341st day of 2013. There are 24 days left in the year. 1863 -- 150 years ago: Some excitement was created in our corn market today by two new buyers who ran the price up to 62 cents per bushel. 1888 -- 125 years ago: H.C. Connelly sold the Johnson property at the corner of 2nd Ave. and 15th St. to A.C. Schafer for $1,800. 1913 -- 100 years ago: O.W. Billings and George P. Herzog have opened a new ready-to-wear shop at 1611-13 2nd Ave. 1938 -- 75 years ago: Farmers in this section of Illinois are preparing to seal part of their 1938 corn crop and receive government loans on it up to 57 cents per bushel, depending on the quality and storage conditions. 1963 -- 50 years ago: Dohrn Transfer Co. is displaying its new general headquarters for its nine-state operations at 4016 9th St., Rock Island, today to its employees and tomorrow to its customers. 1988 -- 25 years ago: In 30 minutes under a Tuesday afternoon sun at the Kmart store in Moline, millionaire columnist Percy Ross raised $1,400 for the Salvation Army.