HARD ROCK CASINO LICENSE RULING UPHELD

HARD ROCK CASINO LICENSE RULING UPHELD

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A POLK COUNTY JUDGE HAS RULED THAT THE GAMING LICENSE ISSUED TO SIOUX CITY ENTERTAINMENT AND MISSOURI RIVER HISTORICAL DEVELOPMENT WILL STAND.

JUDGE ELIZA OVRUM’S RULING FRIDAY AFTERNOON DENIES THE STAY ISSUED BY JUDGE ROBERT HANSON LAST DECEMBER AGAINST THE LICENSE ISSUED BY THE IOWA RACING AND GAMING COMMISSION IN APRIL FOR A HARD ROCK CASINO IN SIOUX CITY.

THAT LICENSE WAS ISSUED AFTER MRHD SEVERED ITS PARTNERSHIP WITH PENN NATIONAL GAMING, WHICH OPERATES THE ARGOSY BELLE RIVERBOAT CASINO HERE.

BRIAN OHORILKO, ADMINISTRATOR OF THE STATE RACING AND GAMING COMMISSION SAYS THE RULING UPHOLDS THE BOARD’S DECISION ON THE CASINO LICENSE:


OC….OPERATING AGREEMENT. ;20

THE IOWA SUPREME COURT HAD REMANDED THE CASE BACK TO POLK COUNTY DISTRICT COURT AFTER AN APPEAL OF THE STAY ISSUED BY JUDGE HANSON.

JUDGE OVRUM CONCLUDED IN HER RULING THAT ALTHOUGH THE BELLE WILL SUFFER IRREPARABLE HARM, THEY WOULD NOT LIKELY SUCCEED  ON THE MERITS OF ITS LEGAL CLAIMS AGAINST THE HARD ROCK PROJECT.

JUDGE OVRUM ALSO AFFIRMED THE REVOLVING CREDIT AND TERM LOAN AGREEMENT TO HELP FINANCE THE HARD ROCK CASINO.

OHORILKO SAYS THE IRGC WILL HEAR A SEPARATE OBJECTION FROM PENN GAMING AT THEIR MARCH MEETING IN ALTOONA:


OC…….COMMISSION MEETING. ;16

BILL WARNER, PRESIDENT OF SIOUX CITY ENTERTAINMENT, RELEASED A STATEMENT THANKING THE COURT FOR THEIR ASSESSMENT OF S-C-E’S POSITION AND SAYS HIS GROUP REMAINS COMMITTED TO BRINGING THE HARD ROCK HOTEL AND CASINO TO SIOUXLAND.

KAREN BAILEY OF PENN NATIONAL GAMING E-MAILED A STATEMENT SAYING THEY ARE DISAPPOINTED WITH THE JUDGE’S DECISION, BUT REMAIN CONFIDENT IN THEIR LEGAL POSITION AND LOOK FORWARD TO BRINGING THE MERITS OF THIS CASE TO TRIAL.