GAMBLING PLANS

Panels interview casino developers

2013-01-07T15:15:00Z 2013-01-08T04:40:50Z Panels interview casino developersKurt Allemeier The Quad-City Times
January 07, 2013 3:15 pm  • 

UPDATE: The three potential land-based casino developers have completed their interviews.

Three aldermen were part of the interview panel, but other aldermen were there to hear the presentations.

Here are some excerpts from Kurt Allemeier's tweets

Ingenus Management Consulting is first up.

Ingenus has 11 panels as part of its casino proposal presentation.

Ingenus says before a land-based casino, Davenport received $250,000 and the RDA $2.1 million. Their plan: city $8.8 million, RDA $4.9 million.

Ingenus representative answer questions about lease, bifurcated license, the need for national branding and making Davenport no. 1 in the market.

Break...

Back at it with the Restoration St. Louis presentation. Amy Gills say their casino project marries historic with modern to draw more people to downtown.

Restoration St. Louis estimates city revenue at $10.8 million or $12 million, depending on agreement.

The Gills say a casino is the best use for the Parker and Putnam buildings downtown. If they are not chosen, they will still be developed.

The Gills' original casino plan included a grocery store but it was removed. Amy Gill says they'll look for another venue for that.

Break...

Atrium Holding's presentation has started. The company owns 54 hotels nationwide, including a Reno, Nev., casino.

Atrium Holding says low risk and 120 days to open casino make it the most attractive proposal.

The Atrium plan would take the Radisson Quad-City Plaza hotel from 200-plus rooms to 180.

A city consultant questions the revenue amount since both casino phases aren't in place immediately.

The Radisson Quad-City Plaza will get a $4.5 million renovation.

Atrium Holding's president was asked whose presentation is second best. He says Restoration St. Louis because the license leaving would drain downtown.

All three presentations ended to applause.


EARLIER REPORT: The three potential land-based casino developers who participate in interviews today with Davenport representatives will have to be prepared to explain how their project is best for the city.

That is what people who will be part of the day-long process said they will be looking for from developers. Interview panels are made up of city staff, aldermen, members of the Riverboat Development Authority, Davenport Community Improvement Corp., Quad-Cities Chamber of Commerce and two consultants paid by the city.

The public is invited to attend the interviews at River Music Experience, 129 Main St., Davenport.

The three proposals, from Atrium Holding, Ingenus Management Consulting and Restoration St. Louis were scored by the same group. Those scores, released in late December, showed Restoration St. Louis, the developer of Hotel Blackhawk, as the favorite of most of those who scored the projects, while the Ingenus project had the highest average score.

Atrium, owner of the Radisson Quad-City Plaza in Davenport, proposes an expansion and renovation of its hotel on 2nd Street to add a casino floor.

Ingenus proposes a bifurcation of the gaming license to build a large casino near the intersection of Interstates 80 and 280 and what the company calls a “boutique” casino downtown next to the RiverCenter.

Restoration St. Louis proposes a downtown casino that includes the entire block between 2nd and 3rd and Brady and Main streets for a hotel and office space.

“I want to get more details, and better understand the financial options they are proposing to the city,” Mayor Bill Gluba said. “We are trying to ascertain what will be in the best financial interest of the city, not the developer. How do we maximize the revenue to the city and minimize risk?”

Alderman Jeff Justin, 6th Ward, who also serves on the Davenport Community Improvement Corp., has similar expectations.

“I want more specifics about the financial capabilities to get the job done,” he said. “What can they do for the city of Davenport?

“The better we can define that will go a long way,” he said.

Riverboat Development Authority President Mary Ellen Chamberlin said it is OK to sound greedy by asking what is best for Davenport.

“That is why we’re going through this exercise,” she said.

The interview panel will deliberate after the final interview of the day, but won’t immediately announce a the preferred developer. City Administrator Craig Malin said further due diligence might be necessary, and naming a preferred developer would hurt negotiations.

The developers each will have 30 minutes of a two-hour block for a presentation. The interview panel will have a one-hour question-and-answer session, followed by written submitted questions from the public. Public questions must be written on index cards and posed by the facilitator. Interview sessions will end with closing remarks from the developer.

On Tuesday, the city is hosting a bus trip for aldermen and members of the RDA and Davenport Community Improvement Corp. to Dubuque to see the city-owned Mystique casino and talk to officials there about how it operates.

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(4) Comments

  1. Alloren
    Report Abuse
    Alloren - January 07, 2013 5:26 pm
    Ingenus made the best presentation. Don't understand how removing $100M+/yr from the local economy via a casino makes good sense. The city might net $4-$10M/yr to the general fund. 2-5% of annual budget, in the best case. In any case this deal is a spit in the ocean.
  2. Alloren
    Report Abuse
    Alloren - January 07, 2013 5:18 pm
    RSL and council members on today's board seem pretty tight. Ingenus made the presentation. Have a hard time understanding how removing $100m/yr out of the local economy ivia the casino in return for $4-$10m/yr into the city's general fund is a smart move.
  3. 1of3
    Report Abuse
    1of3 - January 07, 2013 4:09 pm
    Atrium Holding's presentation has started. The company owns 54 hotels nationwide, including a Reno, Nev., casino.

  4. Hereandhere
    Report Abuse
    Hereandhere - January 07, 2013 2:10 pm
    So which company has any type of gaming experience, other than rolling the dice with tax dollars?
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