Companies agree to build Iowa casino

Companies agree to build Iowa casino

	Published : Fri, 09 Feb 2007 17:13 By : Agencies Print this Story

CLINTON, Iowa (AFX) - A Des Moines company has reached a deal to buy more than 28 acres to build a land-based casino in Clinton that will be surrounded by dozens of stores and restaurants.

Wild Rose Entertainment will spend between $30 million to $32 million to build a casino-resort that will replace the current Mississippi Belle II riverboat casino, purchased by Wild Rose last year.

Wild Rose is coordinating the project with Valley Bluff Development Corp., a Clinton group that's working to bring about 40 businesses to the area surrounding the new casino. Valley Bluff purchased 117 acres northeast of the intersection of U.S. 30 and has agreed to sell 28.6 acres to Wild Rose.

Valley Bluff will continue marketing the remaining land to prospective retailers and businesses, said Dan Jefferies of Howes & Jefferies, the secretary for Valley Bluff.

'We want to continue to create these opportunities to develop Clinton as the destination city of eastern Iowa,' Jefferies said.

Construction will begin as the weather warms up enough to allow dirt to be moved, Jefferies said.

'They are just itching to get going, but the weather isn't being very cooperative,' Jefferies said.

The new casino will feature 650 slot machines, 20 table games, two restaurants, a 60-room hotel and a conference center.

Clinton Mayor LaMetta Wynn said closing the riverboat casino will free up space on Clinton's riverfront for possible future development.

Wild Rose purchased the riverboat casino in June for $46.3 million from the Mississippi Belle II Employee Ownership Group and the Robert Kehl family.

Jim Krambeck, executive vice president for Wild Rose Entertainment, said the land-based casino will help the company compete better with other casinos in the region.

Plans for the new casino have been in the works for a couple years, beginning with the casino's former owners, with various sites under consideration in that time from the north end of Clinton to other sites in the west.