In 2003 the nonprofit Black Hawk County Gaming Association, in partnership with Biloxi-based Isle of Capri, persuaded local residents to support a measure to allow riverboat gaming. It passed with 66% of the vote and the Waterloo Hotel and Casino was the first proposal for the area. On Wednesday optimism was rewarded when Iowa Racing and Gaming Commission voted to award a gambling licence to the Cedar Valley Gaming Co for the Isle of Capri project near the Lost Island Adventurepark.

There were ten locations seeking a riverboat casino licence, three in Waterloo, but only four licences have been granted. Apart from the Lost Island site, developments in rural Worth County, Riverside south of Iowa City, and the Wild Rose at Emmetsburg have been given the green light. The five members of the Iowa Racing and Gaming Commission voted 4-1 in favour of the Isle of Capri venture, and the only dissenting voice was from a member who was against any expansion of gaming in the state and voted against all the projects.

Local opinion broadly supported the Isle of Capri proposal and the Commission felt that it would revitalize downtown Waterloo. The proximity of the Lost Island Adventurepark should turn the area in to a destination choice with its location at the intersection of major roads. The project will cost in the region of $98 million and Isle of Capri will be expected to reinvest in the 200-room hotel and casino.

Isle of Capri operates three other casinos in Iowa, at Marquette, Davenport and Bettendorf. The Rhythm City Casino at Davenport has around 800 slot machines, both the other casinos have over 1,000, and all three have table games and poker. The company also has gambling operations in Florida, Colorado, Missouri, Louisiana and its home state of Mississippi. Further afield there is Lucayana on Grand Bahama.

In the UK there is a casino project at the Arena in Coventry which will look to attain regional status in due course. Isle of Capri has also announced on Tuesday its management agreement with Las Vegas based Eighth Wonder to manage the casino in the Singapore integrated resort concept put forward by Eighth Wonder in partnership with Starwood Hotels. The proposal now to be submitted to the Singapore government, involving all three companies, is estimated to require investment of about $1.7 billion. (E-05.12.05)

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