Lyon County awarded gaming license

Only Lyon County/Kehl Management was awarded a gaming license by the Iowa Racing and Gaming Commission at their board meeting today in Johnston. The reasons cited by each of the 5 Commissioners included:

• completeness and timeliness of their application materials, 
• the high voter turnout last year to authorize gaming in the County.
• the high "yes" vote in the referendum.
• the completeness of the financing package, the equity from Kehl Management, and the 400+ Iowa investors that made up the balance of the equity position.
• the out-of-state market that the casino could capture in South Dakota.
• the Commission's own studies pointed to Lyon County as the last viable market for additional gaming in Iowa.

The other three applications from Tama County, Wapello County (Ottumwa), and Webster County (Fort Dodge) were unanimously denied by the five Commissioners. The reasons cited were over lack of financing, missed deadlines, questionable community support, cannibalization of other state regulated casinos, questionable studies, and lack of definitive development plans.

Many of the investors in the Riverside Casino and Golf Resort are also involved in the new Lyon County venture.