- Riverboat Casinos Pari-Mutuel (racetrack) Casinos Indian Casinos Riverboat Casinos in Iowa Iowa was the first state to legalize riverboat casino gambling. The riverboats began operating on April Fools Day in 1991 and passengers were originally limited to $5 per bet with a maximum loss of $200 per person, per cruise.
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Who we are: In compliance with the Iowa Excursion Boat Gambling Act, the Regional Development Authority (RDA) is the non-profit license holder and Qualified Sponsoring Organization (QSO) for the Rhythm City Casino Resort in Davenport, IA. RDA receives funds from Rhythm City Casino’s gaming operation to use in making community grants. Visit museums, shops and restaurants in Davenport and Bettendorf in the Quad Cities area. At the George M. Verity Riverboat Museum in Keookuk, you’ll take a trip back to a time when steamboats ruled the river. For an unforgettable trip along the Mississippi River, you can’t beat the Iowa Great River Road.
President Casinos was a gaming company and casino operator based in St. Louis, Missouri that was active in the 1990s. In the 2000s it went into bankruptcy and had liquidating by the end of the decade.
History[edit]
The company was founded in 1991 by Pittsburgh millionaire John E. Connelly who owned the Gateway Clipper Fleet and SS Admiral. Its riverboat casino The President in Davenport, Iowa which opened in April 1991 was one of the first modern riverboat casinos in the Midwest and South after they started becoming legal. It began trading on NASDAQ in 1992.[1]
On June 20, 2002 President Casinos filed for Chapter 11bankruptcy. On April 15, 2005 the President Casino Broadwater Resort in Biloxi was sold to Broadwater Development.
On February 24, 2006, Pinnacle Entertainment announced that it would purchase the President Casino Laclede's Landing for $31.5 million. On December 21, 2006, Pinnacle Entertainment completed the purchase of the casino.
It has sold all of its operations since declaring bankruptcy and as of February 2009 is making its final distribution of assets.[2]
Casinos and other operations[edit]
The company lost several million dollars in unsuccessful attempts get gambling franchises in Pittsburgh, Philadelphia, New York City, New Orleans and the Catskill Mountains. Its only operating casinos were:
- The President, Davenport, Iowa opened 1991 in (later acquired by Isle of Capri Casinos subsequently retired. Associated with the casino was the landmark Blackhawk Hotel in downtown Davenport.
- President Casino Broadwater Resort, Biloxi, Mississippi opened 1992 (acquired by Broadwater Development LLC in 2005 and destroyed shortly thereafter by Hurricane Katrina)
- President Casino Tunica Southern Mist, Tunica, Mississippi, opened 1993 and closed 1994 with the Southern Mist riverboat being moved to Biloxi.
- President Casino Laclede's Landing, St. Louis, Missouri opened 1993 aboard the SS Admiral. Sold in bankruptcy in 2006 to Pinnacle Entertainment.[3]
References[edit]
- ^International Directory of Company Histories, Vol. 22. St. James Press, 1998
- ^http://biz.yahoo.com/e/090130/prezq.pk8-k.html
- ^https://www.semissourian.com/story/1182456.html
External links[edit]
Riverboat Casino Davenport Iowa
Did you know that the Quad Cities was the first in the U.S. to offer riverboat gaming? In 1991, the region launched a nationwide resurgence of gaming when the Diamond Lady Casino was the first casino to open in Bettendorf, Iowa. The President Casino opened about an hour later on the riverfront in Davenport, Iowa.
Riverboat Gambling Davenport Ia
Today, three land-based casinos operate daily in the Quad Cities – Isle Casino Hotel Bettendorf, Jumer’s Casino & Hotel in Rock Island, and Rhythm City Casino Resort in Davenport.
The new William Hill Sports Book Area of the Isle Casino is an excellent place for fans to gather for sports wagering, and the Elite Sports Book at Rhythm City Casino's Draft Day Sports Lounge features a 360-degree screen and tv screens for customers to view odds or their preferred games. Sports wagering will be available on the Illinois side later this year.
Riverboat Casinos Davenport Iowa
Besides gaming, each property offers a variety of dining options, beautifully appointed hotel rooms, live entertainment options, and all are close to attractions, golf, and other entertainment amenities.
Start planning your trip to the QC today and check out the details below on our QC casinos.