Progress is being made in the sale of Rhythm City casino in Davenport, according to a representative for Isle of Capri which owns it.|
"We are in discussion with a potential purchaser," said Isle spokeswoman Jill Alexander. "The process is further along than it has been in the past.
"At this point, drafts are going back and forth," she said. "Isle is satisfied where we are. We are waiting to hear back from the potential purchaser."
The Iowa Racing and Gaming Commission has said it would like to see progress on the sale of the Davenport casino. In March, even while renewing Rhythm City Casino's license, the commission underscored its unhappiness with the lack of investment in the Davenport boat by its owner, Isle of Capri.
"We are aware the potential purchaser is in contact with the RDA (Riverboat Development Authority) and the city of Davenport, but we are not involved in those discussions," Ms. Alexander said Thursday.
Davenport Mayor Bill Gluba on Thursday said he is hopeful something can be worked out this year, adding he wants an agreement that will be in the best interests of the city and maximize revenue. Mayor Gluba also said the city still supports Chicago-based develper MSEG LLC's desire to reach an agreement with Isle and build a downtown casino.
Whether MSEG is a potential purchaser is unknown. In March, gaming commission chairwoman Toni Urban said she didn't believe MSEG had the financial backing or background to get into gaming.
Mayor Gluba said Davenport's development agreement with MSEG expires Nov. 13.
"We're waiting on them (MSEG) to put a package together or to conclude they can't do it," Mayor Gluba said.