DAVENPORT, Iowa (AP) – The company that owns the Rhythm City Casino on Davenport’s riverfront will sell it to a developer who plans to build a new land-based casino.
Isle of Capri Casinos, Inc., announced Wednesday that it has reached a “definitive purchase agreement” with Scott County Casino, LLC, which is led by developer Dan Kehl. The $51 million sale is expected to close next year.
The sale was expected after Davenport leaders last week approved Kehl’s plan for a $110 million casino development near Interstate 80. The Rhythm City will eventually close under the plan.
Isle of Capri CEO Virginia McDowell said the agreement is the latest step in a “long and sometimes arduous process.” She says the focus now turns to ensuring a smooth transition of the property to new ownership.
Copyright 2013 The Associated Press.
