Gaming News

Waterloi Isle of Capri to open

WATERLOO, Iowa -- As reported by the Des Moines Register: "Gambling is getting a second chance in Waterloo and many folks here hope it's a winning hand.

"The tropical-themed Isle Casino & Hotel, built at a cost of $175 million, will open at 7 p.m. Saturday, promising one of Iowa's biggest and most plush gambling operations.

"The facility will employ 750 people and expects to attract 2 million admissions annually while raking in gross casino revenues of about $100 million.

"The city's first experiment with legal gambling ended in failure 11 years ago when state regulators ordered the financially troubled Waterloo Greyhound Park to close its doors. The track, owned by the National Cattle Congress, was initially a big success, drawing 322,000 gamblers its first season in 1986-87. But its fortunes plunged amid tough competition from other tracks and the growth of casino wagering..."

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