Davenport releases gaming market report
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By Tory Brecht | Friday, July 18, 2008 |
Davenport officials have received the final draft of a gaming market analysis that sets the value of the city’s gaming license.
The market analysis concludes the likely value for investment in a casino located in Davenport ranges from $149 million to $190 million. The report projects annual gaming revenue ranging from $82 million to $88 million, depending upon size, quality and location of a casino.
The report, commissioned by Mayor Bill Gluba shortly after he was sworn into office, considers the value of a casino at the current riverfront location in downtown Davenport, as well as two other spots near Interstate 80.
The conclusions reached in the report have Gluba and some aldermen contemplating shopping the Davenport license to a new gaming operator. Last week, they learned the Isle of Capri, which now operates the Davenport casino, plans to invest $9 million to upgrade the existing gaming boat but is not contemplating a land-based facility or a hotel.
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