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Iowa House Bill Could Allow New Casino Licenses

DES MOINES, Iowa – As reported by the Quad-City Times: "Iowa House members released Thursday the highlights of a broad gambling expansion bill that could allow up to five new riverboat casino licenses in the state, lift cruising requirements for the boats and permit table games at racetracks.

"Leaders from communities trying to lure new casinos as an economic development tool praised the bill, while gambling opponents said it would expand the industry too far.

"…'This is a starting point. This will change,' said Scott Raecker, R-Urbandale, who leads the

"…Up to five new licenses would be issued, allowing the five counties that have passed referendums to legalize gambling a shot at getting a license. A sixth, Webster County, will hold a referendum next month.

"Those who want to build casinos on specially-made lakes expressed relief that the legislation would allow riverboat casinos to be located on manmade lakes and reservoirs. But new casinos could not be built in counties that already have them or within 50 miles of existing state-licensed casinos. In the Quad-City region, there are riverboat casinos in Davenport, Bettendorf and Clinton.

"The state also would charge $10 million for new licenses that have, until now, been issued for free.

"…Under the proposal, riverboats would see their tax rates rise from 20 percent to 22 percent of adjusted gross revenues, which would also be the new tax rate for racetracks.

"Racetracks wanting to offer table games would pay a 26 percent tax, as would riverboats choosing to convert to barges…"

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