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Iowa Governor Signs Gambling Legislation

7 May 2004

DES MOINES, Iowa – As reported by the Sioux City Journal: "Iowa Gov. Tom Vilsack put his signature on far-reaching gambling legislation Thursday, likely dropping the green flag on a high-stakes scramble for new riverboat casinos.

"Six Iowa counties are betting on riverboats to provide a big economic boost. The bill signed by Vilsack keeps their hopes alive by leaving a final decision on expansion in the hands of the Iowa Racing and Gaming Commission.

"…The legislation signed by Vilsack also settles a lengthy dispute between the state and racetrack casinos over tax rates.

"…Racetracks, under the bill, would be allowed to offer table games such as blackjack and craps. Riverboat casinos would no longer be required to take costly, periodic cruises, but they will pay a higher state tax rate.

"…Voters in Worth, Palo Alto, Black Hawk, Franklin, Wapello and Webster counties have given local leaders a loud, clear go-ahead to pursue riverboat casino projects.

"But first, the Racing and Gaming Commission must lift its own five-year-old moratorium on the issuance of new licenses. The commission is widely expected to lift its license cap and could do so at its next meeting June 10.

"…It could be months before the commission awards new licenses…"

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