Rhythm City Sale Approved
January 09, 2014
Construction could begin by next fall on a land-based casino in Davenport. Today the Iowa Racing and Gaming Commission approved the sale of the Rhythm City riverboat for 51 million dollars to Dan Kehl, owner of the Riverside Golf Resort and Casino.
After many months of planning and uncertainty, Kehl says the unanimous vote by the commission was a huge relief.
"The commission has been following this process and nudging it along, hoping to get all the parties involved to the table and make this thing work out. So it was a little bit surreal to finally be standing in front of the commission and saying 'hey, we've got this thing done.' So we're ready to move forward for the next step."
His tentative plans call for closing on the purchase, and taking possession of the Davenport boat, on February 3rd. The casino would then close for two days to install new computer equipment and software, and re-open February 5th. Kehl hopes to break ground in the fall in north Davenport, along Interstate 80, for a 110 million dollar casino. With completion in about one year (late 2015).
He's already held some preliminary meetings with Rhythm City managers and employees, and hopes the transition will be smooth for them, and for customers.
(in September Kehl met with the Riverboat Development Authority which owns the license for the Rhythm City casino)