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Iowa Riverboats Propose Plan

DES MOINES, Iowa – As reported by the Sioux City Journal: "Representatives of riverboat casinos floated a plan to Iowa lawmakers Monday that would allow them to forgo a cruising requirement if they give the state an additional 1 percent of their revenue in taxes.

"Curtis Beason, who represents riverboat casinos in Davenport, Bettendorf and Marquette, said many of the riverboats in the state would prefer to pay increased taxes if they were freed from a requirement that they cruise 100 days a year.

"The proposal would raise the tax rates from 20 to 21 percent of revenues. Floating barge casinos would pay a 22 percent tax rate under the proposal.

"John Pavone, co-founder of the Iowa Riverboat Association, said safety is another reason to question the cruising requirement. Three people have died on Iowa riverboat casinos during cruises in recent years.

"…Proposed casinos in Waterloo and Worth County would be located on man-made lakes, but commissioners have asked the Legislature for more clarification on what type of waterways are preferred…"

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