Argosy concerned business would suffer if Lyon Co. casino approved - KTIV News 4 Sioux City IA: News, Weather and Sports

Argosy concerned business would suffer if Lyon Co. casino approved

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SIOUX CITY, Iowa (KTIV) -- A Sioux City casino says their business will suffer if the Racing and Gaming Commission issues a license to the proposed casino near Larchwood, Iowa.

Argosy Casino spokesman Tom Teesdale says the Sioux City riverboat would likely see an 8% drop in customers. He says if that decline does happen, it could impact the number of employees working at the casino.

Teesdale says the two market studies that came out recently for the Lyon County casino show that supply is meeting demand.

"So the current operators in the state of Iowa are gonna give up some of their market share to new operators, and that's going to create a decline in revenues," Teesdale said.

Missouri River Historical Development, or MRHD, is the license holder for Argosy. Every year it make donations to non-profits in Woodbury County based upon a percentage of casino earnings. Teesdale says donations would likely decline if revenues were to drop.

The Iowa Racing and Gaming Commission will meet in July to decide whether it will review a Lyon County casino license application.

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