Iowa Moves Along In Quest For More Casino Gambling

The recession has slowed plans for four new casinos in Iowa, but late this past week the state received good news about the future of these projects. Financing commitments were met by four developers who have applied for gaming licenses.

Iowa is one of the many states in the US with an eye on expanding their casino offerings for residents. The casino boom in the US has been one of the main issues since the economic recession. State lawmakers have been forced to explore the millions of dollars in revenue that casinos have the potential to bring in.

In Iowa, the Racing and Gaming Commission extended a deadline for financial commitments last year in the Spring. That deadline was this past Thursday, and all four of the applicants complied with the request.

The credit market had dried up and it has caused many casino projects to stall in the past couple of years. Iowa already has seventeen casinos operating, with one closing last summer because of the economy.

The next step for Iowa will be for regulators to choose who will receive new casino licenses. That decision is expected to be made before May 13th. Regulators will review the paperwork that was submitted on Thursday, and a decision will be made after that review is complete.

January 9, 2010
Posted By April Gardner
Staff Editor, CasinoGamblingWeb.com
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