SIOUX CITY, IA -
Will 325 jobs and the Argosy Casino stay afloat? Missouri River Historical Development says it's all in Penn National's hands.
MRHD approved a contract extension through 2013, something Penn National said it wouldn't accept.
There are two things that came out of Monday's MRHD meeting.
First, the Argosy's future is in Penn's hands.
Second, MRHD will continue working with Penn, but the group's also looking for a new operator for a land based casino.
Monday night MRHD approved $25,000 to look at proposals from new operators for a new Sioux City casino.
MRHD's President expects Penn National - the Argosy's current operator - to apply, but eight or more companies could be lining up for the job.
This process is all because of the July 12th Iowa Racing and Gaming Commission meeting.
The commission's accepting applications not only from potential casino operators, but also from new non-profit organizations.
Right now MRHD is the non-profit group that holds Woodbury County's gaming license.
As far as the Argosy's future.
Missouri River Historical Development will continue working with Penn to reach an agreement on a contract extension to keep the Argosy floating until at least March 2013.
"There is an agreement out there that we put together last October and that's the basis of what we're discussing," said Mark Monson, MRHD President.
MRHD has approved the plan and the group is talking with Penn.
Basically, now it's up to Penn to sign off on the agreement or not.
It all needs to happen before the next IRGC meeting in August.
The commission's taking applications from non-profit groups and new casino operators until November 1st.
The IRGC should make a final decision on April 18th of next year.
