Sioux City Entertainment defends late financing change - KTIV News 4 Sioux City IA: News, Weather and Sports

Sioux City Entertainment opens new office, defends late financing change

Posted:
Sioux City Entertainment's new development office in Sioux City features music memorabilia. Sioux City Entertainment's new development office in Sioux City features music memorabilia.
SIOUX CITY, Iowa (KTIV) -

With three groups in the running to land Woodbury County's gaming license the competition is fierce. Millions of dollars are at stake.

One of those groups defended its new financing proposal after concerns were raised this week.

Sioux City Entertainment is behind the Hard Rock Hotel & Casino Sioux City project. The group filed a financing amendment to its $118 million plan. It revealed a $35 million investment from former Peninsula Gaming Chairman Brent Stevens.

But Ho Chunk Inc., the group behind the Warrior Casino project, filed a formal objection with the Iowa Racing and Gaming Commission.

It claims Sioux City Entertainment is violating the licensing application process since it was filed 67 days after the November deadline.

The Hard Rock Developer says financing is something that continues to evolve.

"I think there's been a number of precedents for the supplements being filed to financing plans. Again, back in December we presented our financing to the IRGC and I think our financing at that time was adequate to satisfy the needs of what we needed to accomplish for response for the RFP and this is just evolution of that plan," said Bill Warner of Sioux City Entertainment.

Warner said they didn't submit their updated financing plan until after last week's IRGC meeting because he said it wasn't on the agenda. He said they were there to talk about the elements of their project instead.

Meanwhile, Sioux City Entertainment's new office in downtown Sioux City is officially open.

Located at 5th and Douglas, it's where you can go for more information on the Hard Rock Hotel and Casino project. Developers plan to transform the Battery building site.

Ho Chunk's project would transform the historic Warrior Hotel and the Davidson building on 6th street into the Warrior Casino.

Penn National gaming has pitched two plans for a Hollywood Casino. One option is to build in downtown Sioux City near Interstate 29. The other proposal is a casino near Salix, Iowa.

Powered by WorldNow
All content © Copyright 2000 - 2014 WorldNow and KTIV Television Inc. All Rights Reserved.
For more information on this site, please read our Privacy Policy, Terms of Service and Mobile Privacy Policy & Terms of Service.

Persons with disabilities who need assistance with issues relating to the content of this station's public inspection file should contact Administrative Assistant Kathy Clayton at (712) 239-4100 x209. Questions or concerns relating to the accessibility of the FCC's online public file system should be directed to the FCC at 888-225-5322, at 888-835-5322 (TTY) or at fccinfo@fcc.gov.