City leaders sign off on Argosy agreement - KTIV News 4 Sioux City IA: News, Weather and Sports

City leaders sign off on Argosy agreement

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SIOUX CITY, Iowa (KTIV) -

After months of negotiations, the city of Sioux City has signed a lease extension with the Argosy Casino.

The 12-month extension keeps the rent the same, and allows the riverboat casino to dock on city property.

In return, the city collects 3-percent of the facility's gaming revenue.

Penn then has the option to extend the lease for an additional 18-months, but, they would have to pay an addition $7,500 a month in rent.

The agreement releases both the city and Penn National Gaming from legal liability for past conduct.

           

 

 

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