RSSLive - Sioux City Journal

Live blog: IRGC meeting July 12

Business editor Dave Dreeszen will be providing updates on MRHD and Argosy Casino.

It's been a busy week for news related to Penn National Gaming and MRHD's negotiations over the fate of the Argosy Casino. Today's exclusive story reveals that several nonprofit casino license holders from across the state met this morning to discuss their relationships with operators. You can read that here: siouxcityjournal.com

* Despite numerous challenges in the past year, the Argosy posted record revenue for the year.

* The Sioux City Planning and Zoning Commission met and determined that zoning for a land-based casino should be limited to downtown.

* Unhappy with the result of the last IRGC meeting, Argosy casino owners Penn National Gaming filed a legal complaint late last week.

by Mitch Pugh 7/12/2012 12:47:42 PM
The meeting will begin at 8:30 a.m. Stay with us. If you have questions or comments, please post. We will get to them as quickly as we can. Thanks for reading.

by Mitch Pugh 7/12/2012 1:13:22 PM
Good morning from Prairie Meadows Racetrack & Casino, site of this morning's Iowa Racing and Gaming Commission meeting

by Dave Dreeszen via twitter 7/12/2012 1:19:59 PM
The meetings starts at 8:30 a.m. IRGC agenda has two items related to the future of casino gambling in Woodbury County

by Dave Dreeszen via twitter 7/12/2012 1:21:08 PM
First up, the five-member panel will decide what to do with 30-month contract extension for Argosy Sioux City riverboat

by Dave Dreeszen via twitter 7/12/2012 1:21:55 PM
IRGC also will set timeline for application process for land-based casinos in Woodbury

by Dave Dreeszen via twitter 7/12/2012 1:24:16 PM
Here is some background for this morning's meeting. siouxcityjournal.com

by Dave Dreeszen via twitter 7/12/2012 1:24:31 PM
Argosy's owner, Penn National filed legal action last week to try to reverse IRGC June vote to put license up for bid

by Dave Dreeszen via twitter 7/12/2012 1:26:37 PM
A judge will determine if the IRGC followed proper procedures, rules in making its decision.

by Dave Dreeszen via twitter 7/12/2012 1:28:38 PM
Here is background on judicial review issue. siouxcityjournal.com

by Dave Dreeszen via twitter 7/12/2012 1:29:34 PM
IRGC gavels into session.

by Dave Dreeszen via twitter 7/12/2012 1:30:03 PM
IRGC formally elects Jeff Lamberti as commission chair and Greg Seyfer as vice chair. Ex-chair term ended two months ago

by Dave Dreeszen via twitter 7/12/2012 1:32:03 PM
Lamberti is a Des Moines area attorney and former state legislator

by Dave Dreeszen via twitter 7/12/2012 1:32:27 PM
At June IRGC meeting, Penn tried unsuccessfully to replace MRHD with its own new nonprofit group

by Dave Dreeszen via twitter 7/12/2012 1:34:48 PM
The next morning, Penn signed a previous contract offer from MRHD that would extend their deal through March 31, 2015

by Dave Dreeszen via twitter 7/12/2012 1:35:27 PM
IRGC is not expected to accept an extension of that length, given it's desire to open up the license for bids

by Dave Dreeszen via twitter 7/12/2012 1:36:51 PM
IRGC may agree to modified contract that would run through the end of the current one-year gaming license next spring

by Dave Dreeszen via twitter 7/12/2012 1:38:18 PM
Iowa is the only state with legalized gaming that requires a casino operator to partner with a local nonprofit group

by Dave Dreeszen via twitter 7/12/2012 1:38:49 PM
Penn's current operating agreement with MRHD, which has covered 20-year period, was set to expire last Saturday

by Dave Dreeszen via twitter 7/12/2012 1:44:05 PM
Expiring deal raised fears boat would close, putting 325 local casino jobs at jeopardy

by Dave Dreeszen via twitter 7/12/2012 1:44:41 PM
IRGC has made it clear they have no intention of forcing the @ArgosyCasinoIA to close

by Dave Dreeszen via twitter 7/12/2012 1:45:08 PM
If the IRGC limits duration of extension, Penn, MRHD likely will be given some time to accept new terms

by Dave Dreeszen via twitter 7/12/2012 1:46:12 PM
To clarify, Penn and MRHD would have to accept or reject IRGC motion to reduce duration of contract extension

by Dave Dreeszen via twitter 7/12/2012 1:47:49 PM
If either party would reject a modified deal, fears over the floating casino closing could arise again

by Dave Dreeszen via twitter 7/12/2012 1:48:25 PM
Penn-MRHD contract extension now up for debate

by Dave Dreeszen via twitter 7/12/2012 1:49:50 PM
MRHD attorney Curtis Beason addressing commission

by Dave Dreeszen via twitter 7/12/2012 1:51:31 PM
kcau live feed is down fyi

by MB 7/12/2012 1:51:34 PM
Penn attorney Carl Sottosanti urges IRGC to approve contract through March 31, 2015

by Dave Dreeszen via twitter 7/12/2012 1:53:11 PM
Beason said MRHD board has accepted extension either through March 31, 2013 or March 31, 2015

by Dave Dreeszen via twitter 7/12/2012 1:53:39 PM
IRGC chair Jeff Lamberti describes March 31, 2015 as "somewhat arbitrary"

by Dave Dreeszen via twitter 7/12/2012 1:56:49 PM
Lamberti asks both Penn, MRHD if they would extend operating agreement instead to March 31, 2013

by Dave Dreeszen via twitter 7/12/2012 1:57:09 PM
Carl Sottosanti resists Lamberti request, says longer term extension better "protects' all the parties

by Dave Dreeszen via twitter 7/12/2012 1:58:36 PM
Penn VP Steve Snyder says Lambert's proposal would make April 1, 2013 "somewhat arbitrary date"

by Dave Dreeszen via twitter 7/12/2012 2:00:47 PM
Pressed repeatedly by commissioners, Snyder says Penn will not accept 3-31-13 contract ending date

by Dave Dreeszen via twitter 7/12/2012 2:03:35 PM
Lamberti assures Penn that will IRGC will keep boat open past March 31, 2013 without longer contract extension

by Dave Dreeszen via twitter 7/12/2012 2:05:22 PM
"We intend to keep that facility open until a new land-based facility is ready," Lamberti said.

by Dave Dreeszen via twitter 7/12/2012 2:06:02 PM
IRGC unanimously approves contract extension through March 31, 2013

by Dave Dreeszen via twitter 7/12/2012 2:06:49 PM
IRGC vote means that Penn will have to enter into extension with MRHD recognizing that date

by Dave Dreeszen via twitter 7/12/2012 2:07:38 PM
If Penn doesn't accept contract with March 31, 2013 end date, it won't be "in compliance with Iowa law," Lamberti said

by Dave Dreeszen via twitter 7/12/2012 2:09:19 PM
Prior to IRGC vote, Penn officials said 3-31-13 date would create more uncertainty for its Argosy workers

by Dave Dreeszen via twitter 7/12/2012 2:10:01 PM
Sottosanti: June was the highest month for employee turnover ever; cited continued controversy over contract

by Dave Dreeszen via twitter 7/12/2012 2:11:42 PM
argosy lost several employees to winnavegas

by MB 7/12/2012 2:14:09 PM
Seems pretty clear that IRGC is not at all concerned about the jobs, they are only concerned about getting a new casino up and running and using Penn and all of it's employees to pay the bills while someone builds the new casino.

by ZR 7/12/2012 2:14:14 PM
Exactly ZR, everybody just wants to keep making money off Penn while at the same time, doing everything in their power to kick them out of town, and putting hundreds of people out of work....SMH

by junior 7/12/2012 2:16:01 PM
yet again 2 pointless meetings in a row. do they have jobs until march? or do they not? a question that still cant be answered

by MB 7/12/2012 2:18:06 PM