Sioux City Iowa Riverboat Casino
The owners of a former Sioux City, Iowa, riverboat casino have agreed to pay $1.5 million to a nonprofit group that had filed a lawsuit over unpaid revenue-sharing funds.
The Community Action Agency of Siouxland and the Belle of Sioux City reached a settlement last month, the Sioux City Journal reported. Belle operated the Argosy Sioux City riverboat casino.
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The nonprofit sued Belle and Penn National Gaming Inc., the Belle’s parent company, in Nov. 2016 for monthly revenue-sharing payments that the companies withheld from the Missouri River Historical Development Inc. The MRHD collected and distributed the casino’s gambling profits to charitable and civic organizations.
Belle stopped making the payments, which were 3 percent of the boat’s adjusted gross revenues, in May 2013 after it sued MRHD for breach of contract.
“I feel this money was owed to our community, and I’m proud to have played a role in recovering that money. I think it’s going to make a big difference for some of (the nonprofit agencies),” said Jean Logan, executive director of the Community Action Agency.
More than 50 agencies can claim a $10,000 share of the settlement, Logan said. The settlement shares don’t have restrictions, so agencies have the freedom to decide how they spend the money, she said.
“It’s not very often that money comes to us as nonprofits without a lot of strings attached,” Logan said.
Penn National Gaming is pleased the matter has been settled, said Jeff Morris, vice president of Public Affairs and Government Relations at the company.
The breach of contract lawsuit involving MRHD is pending in Polk County District Court.
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Casino In Sioux City
- Categories:Midwest NewsTopics:$1.5 million lawsuit settlement, Argosy Sioux City, Belle and Penn National Gaming Inc., Belle of Sioux City, breach of contract, Community Action Agency of Siouxland, Iowa Riverboat Casino, Missouri River Historical Development Inc.
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| Argosy Casino Sioux City | |
|---|---|
| Location | Sioux City, Iowa |
| Address | 100 Larsen Park Rd |
| Opening date | January 1993 |
| Closing date | July 30, 2014 |
| Total gaming space | 36,000 sq ft (3,300 m2) |
| Casino type | Riverboat |
| Owner | Penn National Gaming |
| Coordinates | 42°29′22″N96°25′18″W / 42.48944°N 96.42167°W |
Argosy Casino Sioux City was a riverboat casino located on the Missouri River in Sioux City, Iowa. It was owned by Penn National Gaming.
Sioux City Iowa Real Estate
History[edit]
The first riverboat, the Sioux City Sue, opened in January 1993 after a couple of other licenses for a casino in Sioux City were granted but then later revoked. In 1994, the Sioux City Sue was replaced by the larger Belle of Sioux City. In 2004, the Argosy, which had been in operation for seven years in Kansas City, replaced the Belle of Sioux City.[1] Penn National Gaming acquired the Argosy Gaming Company in October 2005.
On April 17, 2014, the Argosy was ordered to shut down by the Iowa Racing and Gaming Commission because of a violation in state law where the casino failed to partner with a local non-profit group.[2] The Iowa Supreme Court then ordered the casino to close by July 30, 2014. In October 2014, the Argosy IV boat was moved to Wood River, Illinois and docked until 2018, when it was moved to western India to be operated as a casino on the Mandovi River.[3]
See also[edit]
Sioux City Iowa Riverboat Casino Entertainment
Sioux City Iowa Weather
References[edit]
- ^Hytrek, Nick. 'Sioux City's effort to get riverboat wasn't easy'. Sioux City Journal.
- ^Dreeszen, Dave. 'Iowa Supreme Court orders Sioux City riverboat casino to close July 30'. Sioux City Journal.
- ^Dockter, Mason. 'Argosy riverboat casino sent to western India; will be used as substitute casino boat'. Sioux City Journal.