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Sunday, July 16, 2006

Iowa Casino Expansion Approved

As reported by the Des Moines Register: "Betting by Minnesota gamblers has
been so brisk at the Diamond Jo Worth Casino in north-central Iowa that
state gambling regulators approved plans today for a major expansion project
costing more than $20 million. "During its first three months since opening,
the casino has drawn 335,000 customers who have left behind nearly $17
million. Those figures are more than twice as much as industry researchers
had forecast, Diamond Jo General Manager Jesus Aviles told the Iowa Racing
and Gaming Commission. "...More than 70 percent of the customers are coming
from Minnesota, he added. ".The Diamond Jo Worth Casino has 11 table games,
plus 513 slot machines that are the most profitable of any of Iowa's 15
state-regulated gambling operations, state records show. Each of the Diamond
Jo Worth's slots are winning an average of $342 per day from gamblers, who
are often waiting to play in lines three to four persons deep behind each
machine.

"The casino, which is owned by Peninsula Gaming of Dubuque, opened in early
April in an agricultural-themed $40 million gambling complex.

".The plans approved by state regulators on Thursday include 30,000
additional square feet of space that will provide room for 300 additional
slot machines, 11 more casino table games, a 190-seat buffet, and a larger
entertainment area. Aviles said he hopes construction can be completed later
this year or early next year."

posted by Jerry "Jet" Whittaker at 7/16/2006 02:35:00 AM

 

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Remember, you can beat the odds, but you can't beat the percentages.