Proposed casino site announced
By Gigi Wood
Iowa City Press-Citizen
Details
Catfish Bend wants to build an $80 million casino and resort about three miles east of Riverside along Highway 22. The plan includes:
• An events and entertainment complex seating 2,000.
• An 18-hole golf course.
• A 200-room hotel, which can be expanded.
• Space for housing and an RV park.
• Various food outlets.
WASHINGTON -- Catfish Bend Casino announced Thursday it plans to locate its riverboat and resort on 320 acres adjacent the Iowa River northeast of Highway 22 and Highway 218.
Voters go to the polls Tuesday to decide whether to allow gambling in Washington County. Thursday night, more than 60 people packed the Captain's Table restaurant for a town hall meeting led by project supporters.
Dan Kehl, an owner of Catfish Bend Casinos, unveiled preliminary drawings of the casino and its placement in Washington County. The proposed casino, surrounded by an 18-hole golf course, would sit about 2 miles east of Highway 218 and a few miles south of the Johnson County line.
"Catfish Bend would own 50 percent of operations and sell shares to Washington County residents," Kehl said. "Then we would open it up to Iowa residents if we couldn't get all the shares sold."
Kehl was at the meeting with Joe Massa, general manager of Catfish Bend Casino in Fort Madison, to answer residents' questions and sell the project to voters.
"At least half the profits would stay in Washington County," Kehl said.
Catfish Bend, which operates casinos in Burlington, Fort Madison and Clinton, is proposing an $80 million casino and 200-room resort. The development, which officials want annexed into Riverside, would include events space, dining facilities and a golf course while promising 600 jobs and $70 million in gross revenues from 1.6 million visitors a year.
Financial records show Catfish Bend has bankrolled a citizens group formed in support of the project, providing the entire $20,000 in contributions reported. Opponents, meanwhile, have pulled in less than half that, roughly $8,500, with more than 50 donations from residents and Washington County businesses.
Thursday was the filing deadline with the Iowa Ethics and Campaign Disclosure Board. According to the most recent reports, supporters had about $13,000 remaining while opponents had $1,400.
"That's typically how they win these referendums," said Brad Franzwa, co-founder of Communities Against Riverboat Expansion. "They crank a lot of money and crank a lot of marketing. ... We're still working hard getting out the word to the voters that they still have to go vote. No matter what their opinion is, it doesn't really count until they check that ballot box on Tuesday."
Catfish Bend officials said 10 percent of each year's profits would be given to employees at the end of the year. In addition, Riverside and Washington County each would receive $350,000. Massa said Riverside could opt for a 50-cent levy for each of the expected 1.6 million annual visitors, which could bring in another $800,000.
Three percent of gambling profits -- an estimated $2.6 million annually -- would be required to be set aside for local not-for-profit groups, with the money dispersed by a community committee, officials said. Another $1 million is estimated to be paid to the county in property taxes on the site. Most supplies for the casino would be bought in Iowa, according to state law, they said.
If residents vote against the project Tuesday, another casino cannot be proposed in the county for eight years. If residents vote for the project, Kehl said he would submit applications for gambling licenses in November. The company could find out in June 2005 if those applications would be accepted. If approved, construction would be complete about 15 to 18 months later.
Residents asked the pair whether employees of the casino would be able to gamble there and what effect the casino would have on neighboring homes. Kehl said the company has not decided whether to allow employees to gamble and said property values might increase.
Assistant Assignment Editor Brian Sharp contributed to this report.
Reach Gigi Wood at 339-7360 or at gwood@press-citizen.
By Gigi Wood
Iowa City Press-Citizen
Details
Catfish Bend wants to build an $80 million casino and resort about three miles east of Riverside along Highway 22. The plan includes:
• An events and entertainment complex seating 2,000.
• An 18-hole golf course.
• A 200-room hotel, which can be expanded.
• Space for housing and an RV park.
• Various food outlets.
WASHINGTON -- Catfish Bend Casino announced Thursday it plans to locate its riverboat and resort on 320 acres adjacent the Iowa River northeast of Highway 22 and Highway 218.
Voters go to the polls Tuesday to decide whether to allow gambling in Washington County. Thursday night, more than 60 people packed the Captain's Table restaurant for a town hall meeting led by project supporters.
Dan Kehl, an owner of Catfish Bend Casinos, unveiled preliminary drawings of the casino and its placement in Washington County. The proposed casino, surrounded by an 18-hole golf course, would sit about 2 miles east of Highway 218 and a few miles south of the Johnson County line.
"Catfish Bend would own 50 percent of operations and sell shares to Washington County residents," Kehl said. "Then we would open it up to Iowa residents if we couldn't get all the shares sold."
Kehl was at the meeting with Joe Massa, general manager of Catfish Bend Casino in Fort Madison, to answer residents' questions and sell the project to voters.
"At least half the profits would stay in Washington County," Kehl said.
Catfish Bend, which operates casinos in Burlington, Fort Madison and Clinton, is proposing an $80 million casino and 200-room resort. The development, which officials want annexed into Riverside, would include events space, dining facilities and a golf course while promising 600 jobs and $70 million in gross revenues from 1.6 million visitors a year.
Financial records show Catfish Bend has bankrolled a citizens group formed in support of the project, providing the entire $20,000 in contributions reported. Opponents, meanwhile, have pulled in less than half that, roughly $8,500, with more than 50 donations from residents and Washington County businesses.
Thursday was the filing deadline with the Iowa Ethics and Campaign Disclosure Board. According to the most recent reports, supporters had about $13,000 remaining while opponents had $1,400.
"That's typically how they win these referendums," said Brad Franzwa, co-founder of Communities Against Riverboat Expansion. "They crank a lot of money and crank a lot of marketing. ... We're still working hard getting out the word to the voters that they still have to go vote. No matter what their opinion is, it doesn't really count until they check that ballot box on Tuesday."
Catfish Bend officials said 10 percent of each year's profits would be given to employees at the end of the year. In addition, Riverside and Washington County each would receive $350,000. Massa said Riverside could opt for a 50-cent levy for each of the expected 1.6 million annual visitors, which could bring in another $800,000.
Three percent of gambling profits -- an estimated $2.6 million annually -- would be required to be set aside for local not-for-profit groups, with the money dispersed by a community committee, officials said. Another $1 million is estimated to be paid to the county in property taxes on the site. Most supplies for the casino would be bought in Iowa, according to state law, they said.
If residents vote against the project Tuesday, another casino cannot be proposed in the county for eight years. If residents vote for the project, Kehl said he would submit applications for gambling licenses in November. The company could find out in June 2005 if those applications would be accepted. If approved, construction would be complete about 15 to 18 months later.
Residents asked the pair whether employees of the casino would be able to gamble there and what effect the casino would have on neighboring homes. Kehl said the company has not decided whether to allow employees to gamble and said property values might increase.
Assistant Assignment Editor Brian Sharp contributed to this report.
Reach Gigi Wood at 339-7360 or at gwood@press-citizen.
