Proposed Iowa Casino Would Include RV Park
Four groups expected to seek a state license to operate a casino in Iowa handed over their proposals to state regulators Monday (Nov. 9), and one of the plans contains an RV park.
The Signature Management Group of Iowa and Tama County Community Enrichment are proposing a $42 million project located along the new U.S. 30 bypass between Tama and Toledo, 60 miles northeast of Des Moines, according to the Quad-Cities Times.
The facility would include 500 slots with 18 table games, a 500-seat conference center and dining facilities that include a buffet, sit-down restaurant and sports bar.
It also includes a Holiday Inn Express, an RV park with an executive clubhouse, an outdoor amphitheater and a 90-acre all-terrain vehicle park.
The park could be used for cross-country skiing and snowmobiling in the winter.
"Our community's very excited, and most all of the communities in Tama County realize a state-licensed casino is going to be really good for them," Tama Mayor Chris Bearden said.
The facility is expected to generate $40 million in its first year, with $13 million in revenues for the state the first year.
The new applications are just the beginning of a months-long process before the commission makes a decision on possible new licenses.
Commission Administrator Jack Ketterer said the next milestone is Jan. 7, the deadline for commitments for equity and financing for the projects.
He anticipates applicants will give presentations to the commission, and commissioners will visit the proposed sites this spring. In April or May, the commission likely will hold a public hearing with a final decision on licenses likely in early May.
Commissioners have said they will look at financing of the projects closely, as well as the business effect new casinos would have on the 17-state licensed casinos already in operation.