State Regulators heard a presentation today from the company seeking to buy the President Riverboat and Casino in Davenport. The Isle of Capri Corporation already owns the Bettendorf riverboat, and that has raised concern for the State Racing and Gaming Commission. Commission Chair Bill Hansen says the dual ownership is the main concern surrounding the sale.He says the Commission doesn’t want the Isle of Capri to gain a monopoly in Scott County by purchasing the President. And he says they want to ensure that the non-profit corporations that hold the gambling licenses for Bettendorf and Davenport remain.Hansen says the Isle of Capri ownership would give a boost to the President by bringing in a new boat.It’ll be a bigger boat that is part of some 20-million dollars in capital improvements the Isle of Capri plans to put into the project. The final vote on the sale comes at the commission’s meeting next month. Hansen says that’s when the Isle of Capri will have to satisfy questions about its ownership of both boats.The Commission meets next month in West Des Moines.
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