The Riverside Casino and Golf Resort, located along
the English River in Riverside, Iowa, has so far proven to be a massive success
during its first two months of doing business in Iowa - The state where
"liberties are prized and rights are maintained". As reported by the Iowa Racing
and Gaming Commission, Riverside Casino attracted 220,935 patrons and
approximately $14 million in gross revenue during the months of August and
September.
The resort, which consists of a 200+ room hotel
with luxurious amenities, a 29,000 square foot casino, concert space (Kenny
Logins is performing here soon), a boutique store galley,
three restaurants, a Zenders holistic spa, and a beautiful 18-hole golf course
sprawled across 375 acres of rolling land flanking the English River, is
something of a Mohegan Sun for the Midwestern United States. The golf course is
scheduled to open in June of 2007, and was designed by Reese Jones - a renowned
designer of championship golf courses, including seven U.S. Open courses, five
PGA courses and three Ryder Cup courses. There are also plans to open a
recreational vehicle park.
With all this to offer, there is no wonder why
Riverside is doing so well. Consequently, it should not come as a surprise that
Riverside's nearby competition is not doing so well. The Isle of Capri Casino in
Bettendorf and the Rhythm City Casino in Davenport both reported major losses
since the Riverside opened its doors. Both sites lost a combined average of
12.4% of their normal business, which equated to a $2.1 million decline in
revenue for Isle of Capri and a $1.6 million decline in gambling revenue for
Rhythm City.
An executive for Isle of Capri said the company
knew this day would be coming after the Iowa Racing and Gaming Commission
approved Riverside's gaming license, and that the losses represent an even
greater long-term problem for Isle of Capri's casinos in Davenport and
Bettendorf.
Iowa as a whole, is not losing out on its gambling
traffic. Iowa was the first U.S. state to legalize riverboat casinos, and since
that time has granted casino gambling licenses under the domain of the Iowa
Racing and Gaming Commission to several land-based and riverboat casinos, Indian
casinos and pari-mutuels.