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Gambling regulators will meet Tuesday to hear formal pitches from four business seeking casino licenses from the Iowa Racing and Gaming Commission.
Community leaders from Ottumwa, Fort Dodge, Lyon County and Tama County contend that more gambling will proved a needed economic boom, with the creation of approximately 1,500 jobs and more than $250 million in total capital investment.
Community leaders from Osceola, Emmetsburg and Sioux City oppose the expansion, citing that the gambling market is already saturated from 17 state-regulated casinos which generates about $1.4 billion annually in revenue.
In Ottumwa, a $50 million casino complex has been proposed to bail out the city’s $21 million Bridge View events center, however neighboring Osceola says that the proposal would cost the Terrible’s Casino a loss of up to $7.8 million annually, jobs and local tax revenue.
In Fort Dodge, Webster County Gaming has partnered with Dubuque’s Peninsula Gaming LLC to seek a casino license, adding competition to the Wild Rose casino in Emmetsburg, which opened in 2006 and could lose as much as one quarter of its business to the new competitor.
The $120 million Lyon County casino believes it would draw large numbers of out-of-state gamblers who wouldn’t otherwise spend money in Iowa. Although Sioux City who hosts the Argosy riverboat casino says that northwest Iowa already has enough gambling.
The proposed Tama County casino, would be in competition with the Meskwaki tribal casino near Tama, however tribal leaders hope to work with the new casino to draw more gamblers to the area, has been given support from Tama Mayor Chris Bearden.
Meanwhile Governor Chet Culver in an unprecedented move has urged regulators to approve all four licenses.
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