The proposed Lyon County Casino near Larchwood would generate an estimated $75 million a year in gaming revenue.
Story Created:
Jul 15, 2009 at 8:37 PM CST
Story Updated:
Jul 16, 2009 at 2:46 AM CST
Wednesday the Iowa State Racing and Gaming Commission will make a decision that could have a major impact on our region.
The commission will decide whether or not to accept five applications for large land-based casino resorts... including one near Larchwood, Iowa.
The resort promises to bring in lots of money for the people of Lyon County, Iowa. But it's clear to see this proposed project would also have an impact on Sioux Falls.
Wednesday the gaming commission will consider casino proposals for Franklin, Tama, Wapello, Webster and Lyon counties. According to two independent reports, compiled for Iowa's Racing and Gaming Commission, that Lyon County proposal here along Highway Nine near Larchwood would bring in the most money, primarily because it's designed to attract most of it's business from Sioux Falls... but South Dakotans won't have any say on the final decision, whether you like it or not.
"I'd go over there and play some cards, play some slots and play some golf." Dave Bednar says he thinks a large casino resort in Larchwood would be a win-win for Sioux Falls. "I would say that if people are going to come from here and go over there. If they win money they're going to come back here and spend it."
"That's just something I would disagree with." Senator Dave Knudson says he believes the proposed casino would hurt Sioux Falls by cutting into revenue from video lottery... But he also led the charge against a bill in the legislature this year, which could have created competition for that casino by allowing similar projects in Minnehaha County... Knudson says he stands by his decision no matter what happens. "If it turns out that we will have a casino in Iowa, there's really not much we can do about it, but I don't think moving it to South Dakota was any type of answer."
Now both sides can only wait and watch no matter how they feel.
Iowa's 17 casinos currently generate about 1.4 billion dollars a year, and today the president of the Iowa Gaming Commission said that's proof that they are a success.
That might be good for those in favor of the Larchwood casino... these casino studies showed that the Larchwood proposal would generate about 75 million dollars a year in gaming revenues... that's the most of all the proposed projects.
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