Davenport, Iowa, 7 miles down the Mississippi from the nation’s first riverboat casino, plans to borrow $48 million so it can purchase its own.
The municipality of 100,000 wants to sell general-obligation bonds to buy the Rhythm City riverboat on its waterfront from Isle of Capri Casinos Inc., owner of 16 venues across the nation. Mayor Bill Gluba said the revenue would reduce reliance on property taxes and help cover rising costs. Kansas may currently be the only U.S. municipal casino owner, according to the American Gaming Association.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.
For questions call 1-877-256-2472 or contact us at [email protected]