CasinoCityTimes.com

Home
Gaming Strategy
Featured Stories
News
Newsletter
Legal News Financial News Casino Opening and Remodeling News Gaming Industry Executives Search News Subscribe
Newsletter Signup
Stay informed with the
NEW Casino City Times newsletter!
Related Links
SEARCH NEWS:
Search Our Archive of Gaming Articles 
 

Ameristar Collects Signature for Referendum

9 July 2004

IOWA – As reported by the Des Moines Register: "Ameristar Casinos has begun collecting signatures needed to call for a referendum in November to allow a new riverboat casino in Des Moines.

"Here's the Las Vegas company's plan, being shopped to city and county leaders:

" -The company would build a $200 million hotel-casino complex and take over management of Prairie Meadows Racetrack & Casino in Altoona.

"…- The city could receive $7 million a year from taxes and admission fees if a new casino were built. Des Moines schools would get $3 million. More than $10 million would be earmarked for 'community betterment' - $6.7 million more than such charities and civic groups currently receive from Prairie Meadows.

"-The company would lend Prairie Meadows $60 million for an expansion. Track officials have discussed a potential $110 million expansion to add up to 60 table games.

"Ameristar says it can double the Des Moines gambling market's gross revenue to $350 million.

"…Ameristar's plan is ambitious. It not only requires a vote of the public and permission from state regulators, it also would require approval by the city of Des Moines, Polk County supervisors and the operators of Prairie Meadows Racetrack & Casino - all of which have long had different agendas and ambitions…"

< Gaming News