• Home
  • News
    • Politics & Government
    • Business & Economy
    • Crime / Courts
    • Health / Medicine
  • Sports
    • High School Sports
    • Radio Iowa Poll
  • Affiliates
    • Affiliate Support Page
  • Contact Us
    • Reporters

Radio Iowa

Iowa's Radio News Network

You are here: Home / News / Developer and nonprofit group reach agreement for proposed Greene County casino

Developer and nonprofit group reach agreement for proposed Greene County casino

December 10, 2013 By Dar Danielson

The developer and nonprofit group that hope to gain a license for a new casino in Greene County announced an operating agreement today they call unique. Iowa law requires casinos to contribute a minimum of three-percent of its adjusted gaming revenue to nonprofit groups.

Wild Rose Entertainment is the developer, and president Tom Timmons says their agreement provides enough money to allow the nonprofit to give some money to surrounding counties. “We offered Greene County four-point-one (percent) in the beginning and then as the time went by we formed this county consortium — and it’s the contiguous counties to Greene County — and we increased the contribution to five percent,” Timmons says.

He says this is the first time he knows of that a nonprofit agreement has plans to share the money with other counties. Timmons says it makes the effort more regional.

“Those surrounding counties then are going to give their support to Greene County in going forward with the efforts and trying to obtain the license from the Iowa Racing and Gaming Commission,” Timmons explains.

Grow Greene County Gaming Corporation is the nonprofit that will work with Wild Rose. “Based on the population it’s very similar to our Emmetsburg casino…and so we’re using Emmetsburg as a model and right now our revenues that we’re projection are somewhere around the 30-million dollar number — so simple math will tell you the five percent is somewhere around one-and-a-half million dollars,” Timmons says.

The operating agreement is just part of the plan for obtaining a new license. Wild Rose is proposing a 40-million dollar investment in the casino resort that will feature restaurants, a conference center and a hotel. The Iowa Racing and Gaming Commission has a survey underway to determine if the gambling market in the state can support more casinos.

Timmons believes the size of the Greene County facility will make it an option state regulators approve. “And it’s not really going to impact any existing facilities that we’re aware of, so I think that’s what the study will come back and show,” Timmons says. “Now how much it will show in revenues, we’ll wait and see if their study is the same as ours.  I think it’s a very viable project and I hope the commission thinks that as well.”

The Racing and Gaming Commission has set January sixth as the deadline for Greene County to submit its application for the casino license.

Share this:

  • Facebook
  • Twitter

Filed Under: News, Recreation / Entertainment, Top Story Tagged With: Gambling, Racing and Gaming Commission

Featured Stories

Iowa State Patrol tactical team leader killed in Grundy Center stand-off

Finalists chosen for the state’s top burger

Paintings by Clinton woman gain a following in Europe

Iowa deadline for individual income taxpayers moved to June 1

Dialing rules changing for two area codes in Iowa

TwitterFacebook
Tweets by RadioIowa

New title sponsor for Des Moines Marathon

Iowa State adds Minnesota transfer

Cedar Rapids preparing for big return of sports events

Iowa Games returning with full slate of sports

Iowa’s Garza sweeps national awards

More Sports

eNews and Updates

Enter your email address:

Delivered by FeedBurner

Archives

Copyright © 2021 · Learfield News & Ag, LLC