PENN GAMING AGREES TO CONTRACT EXTENSION

PENN GAMING AGREES TO CONTRACT EXTENSION

9
SHARE

The owner of the Argosy riverboat casino in Sioux City has accepted a contract extension with the nonprofit group that holds the license.

Penn National Gaming says it has agreed to sign the offer by Missouri River Historical Development to extend the current agreement through March 2015. The deal appears to keep the casino
from closing.

Talks have stalled on a long-term deal. Penn is proposing a new $100 million land-based casino. The nonprofit group wants more than the current 3 percent of gross revenue for community projects.

Penn spokesman Eric Schippers says it was the “best interest” of all parties to extend the current agreement.

Mark Monson of the nonprofit group says he didn’t know Penn had accepted the deal, and the group will talk about it on Monday.
    

From Associated Press