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

City leaders sign off on Argosy agreement

Posted:
By Kristen Johnson, Multimedia Journalist/ Weekend Anchor - bio | email
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.

           

 

 

Powered by WorldNow
All content © Copyright 2000 - 2013 WorldNow and KTIV Television Inc. All Rights Reserved.
For more information on this site, please read our Privacy Policy and 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.