SIOUX CITY, IA -
Crisis averted? Penn National, the owner-operator of the Argosy Casino and the Missouri River Historical Development appear to have reached an agreement to keep the boat afloat. Penn announced today it signed a deal offered by MRHD but that's where the story gets fuzzy.
It's taken a long couple of months and many unresolved meetings to decide the future of the Argosy Casino.
But now it appears the boat and 325 jobs that come with it will stay on the Missouri River.
"We decided it was in the best interest of all the parties involved to extend our current agreement with MRHD and to continue to work together towards what we hope will be a longer term agreement," says Eric Schippers, Sr. Vice President of Public Affairs for Penn National Gaming.
Friday afternoon Penn National Gaming said it agreed to extend its current contract with MRHD through 2015, but this was news to MRHD.
The President of MRHD, Mark Monson released this statement:
"This is the first we've heard of Penn National Gaming executing their prior proposal to extend.
"We will be discussing this on Monday and will respond to the Iowa Racing & Gaming Commission as they have requested us to do."
On Thursday, Penn told the Iowa Racing & Gaming Commission that it was working with a new non-profit, "Friends of Woodbury County." Now it appears Penn has done an about face.
"Penn's intention is to work with MRHD towards a long term agreement," Schippers said. "At this point and for today our focus is on taking a deep breath, stepping back and looking at how we can proceed hopefully arm in arm for the benefit of the community and certainly for our 325 employees."
