SIOUX CITY, Iowa (AP) — A Sioux City nonprofit and its former casino partner are battling over proceeds from the Argosy Sioux City riverboat casino.
Casino operator Penn National Gaming Co. and Missouri River Historical Development are at odds over the portion of casino revenue that’s supposed to go to a local nonprofit.
The Sioux City Journal reports (http://bit.ly/17WgwnZ) that Penn stopped making revenue-sharing payments to Missouri River Historical Development last month and proposed designating a third party to distribute the money.
The nonprofit’s current agreement with Penn expired in July 2012, but the group argues Penn should honor the terms of that deal as long as it’s operating.
Missouri River Historical Development paired with another company to plan a new Hard Rock Hotel & Casino that’s slated to open in Sioux City next summer.
Information from: Sioux City Journal, http://www.siouxcityjournal.com