SIOUX CITY, IA -
More than 300 jobs, as well as the future of Sioux City's Argosy Casino, are up in the air once again.
The Iowa Racing and Gaming Commission decided not to accept an extension agreement between the casino's operators at its meeting Thursday morning.
"We're extremely disappointed by their decision today to not approve our contract extension," said Eric Schippers, a Vice President with Penn National Gaming, the Argosy Casino's operator.
Thursday the Iowa Racing and Gaming Commission decided not to accept a previous agreement between Penn National Gaming and Missouri River Historical Development, which would have extended the Argosy's operating license to 2015.
Instead, the commission offered an extension through March 2013, a deal Penn National said it wouldn't accept.
"The action today is going to create ongoing uncertainty for us, for Sioux City, and certainly for our 325 local employees there," said Schippers.
MRHD, the non-profit that holds Woodbury County's gaming license, says the IRGC's decision is unexpected, but after all, the commission calls the shots.
"We function at the leisure of Racing and Gaming," said Mark Monson, MRHD President. "So we can make all the agreements we want to and if they don't approve, they don't exist."
In the meantime, the IRGC's accepting applications for a new casino operator and non-profit group.
"Frankly, in any state in the country that has gaming we have not seen an action like this taken," said Schippers.
Penn National filed a court appeal to stop that process, but regardless of who's running the casino it's almost certain the Argosy will soon be moving onto shore.
"Woodbury County would have a land based casino," said Monson. "I believe we're all in agreement with that concept, it's going to happen."
Missouri River Historical Development has a meeting Monday, July 16th. The group will most likely decide on the 2013 contract extension then.
Penn National also has to decide to accept it or not, all before the next Iowa Racing & Gaming Commission meeting in August.
