Archive for the 'Indian Casinos' Category

Three-month-old Iowa casino okayed to expand

Thursday, July 13th, 2006
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A mere three months into its existence, the new Iowa casino in Worth county has been given the go-ahead to expand its operations given attendance figures having already reached 53.7 percent of their initial yearly projection.

Official approval from the state Racing and Gaming Commission came earlier today, according to Radio Iowa and will allow operators to add an additional 30,000 sq. ft. along with 300 slot machines, another 11 table games, buffet, poker room and an area for entertainment.

Thousands of gamblers making the southern trek from Minnesota are looked upon as the biggest reason in the casino’s success thus far, with general manager Jesus Aviles estimating the facility’s revenues have likewise achieved more than 50 percent of initial annual projections. Originally targeting $32 million, $17 million has already been accumulated. Attendance has already surpassed 343,000 visitors, with 600,000 the original projection.

Long lines at the existing slot machines are common during peak hours with more than 93 percent utilization, Aviles said, pointing out that – if the expansion was denied – the casino was at risk of having those would-be gamblers venture elsewhere for their gaming experience. He added that the facility is attracting people from more than 100 miles away, including visitors north of the casino, estimating that 70 percent are traveling from Rochester and the northern climes of Minnesota. Aviles attributed another factor in the casino’s success thus far is the fact that Worth County offers things Native American casinos do not – such as table games.

The expansion is set to begin immediately, with a price tag pegged at $20 million. Aviles estimates that – once completed – it could double the initial first-year revenue projections.

posted by Rex Harris

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