New Casinos in Iowa Aren't Welcomed by Existing Casino Operators
Some Iowa towns, anxious to enjoy the employment and economic benefits of casino gambling, are excited to finally be nearing the establishing of their own casinos. But many of the regions supporting the existing seventeen casinos in the state are not so thrilled about more casino licenses coming to Iowa.While total state gambling revenues are expected to rise significantly, some of the riverboats already operating are anticipating losing as much as five percent or more of their business to new operations.
Proponents of the extra casinos, particularly near the South Dakota border, have said most revenue is expected to come from new tourists in from neighboring states. Casinos are even being located to tempt citizens from states with more stringent gaming laws to cross the boundary and leave dollars in Iowa.
"Obviously we are concerned that in a down economy we are increasing the gaming facilities in Iowa and it's going to impact us, Emmitsburg and casinos around the state,” Argosy Casino General Manager Kees Eder told KELO TV.
Eder is among a number of unhappy casino operators, who are asking the Iowa Gaming Commission to review and either suspend or negate its decision. But, as long as overall state revenues can be raised, experts don't foresee any reversal of policy by the Iowa regulators.
