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Vegas-Style Upgrades Planned for Iowa Casino

IOWA – As reported by the Des Moines Register: "The cowboy is known as Mr. Terrible, and a towering neon sign bearing his image greets the 16,000 cars and trucks that cruise daily on Interstate Highway 35 past Terrible's Lakeside Casino.

"The glitzy new Las Vegas-style sign, which stands 132 feet tall and cost nearly $1 million, represents the latest move to woo gamblers back to Osceola's casino. Overall, the Herbst family of Nevada, who purchased the business in February, plans to spend about $15 million to upgrade the property over the short term.

"Business dropped sharply at the casino last December after Prairie Meadows Racetrack and Casino in Altoona began offering table games, such as poker, craps and blackjack. The Osceola casino has struggled since, with adjusted gross gambling revenue for the past four months totaling $17.4 million, down 15.2 percent from a year ago. But the new owners predict they are about to turn the corner toward regaining lost customers and profits.

"…In Osceola, the Herbst family promises major improvements to increase their competitiveness in Iowa's gambling market.

"…Central Iowa's casino market does have a potential for realizing untapped growth, and Terrible's should benefit financially from the improvements being made there, said Jack Ketterer, administrator of the Iowa Racing and Gaming Commission…"

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