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Iowa Gambling News Brief
Regulators express doubts about some Iowa casino projects
Des Moines Register,
Thursday, January 14, 2010 at 2:14:07 PM
State gambling regulators said today they were satisfied with plans to raise money for proposed casino projects in Lyon County and Fort Dodge, but they raised serious questions about financing for projects in Tama County and Ottumwa.
The Iowa Racing and Gaming Commission had all four applicants for casino licenses make presentations to explain how they intend to pay for their gambling complexes, which would cost between $40 million and $120 million.
The regulators have been concerned about financing commitments because the economic recession has led to a sharp downturn in the nation's gambling industry.
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