SIOUX CITY, Iowa (AP) — The nonprofit organization that holds the gambling license for the Argosy Sioux City riverboat casino has voted to stop sending grants to local charities and governmental bodies for now.
The Sioux City Journal reports (http://bit.ly/1d3kMl4 ) that lawsuits over which gambling operator has the right to run a casino in Sioux City has prompted the Missouri River Historical Development board to temporarily stop approving grants.
The board is the nonprofit holder of the gambling license for the casino operated by Penn National Gaming Co.
Iowa law requires casino operators to contract with and share a portion of their revenues with licensed nonprofit organizations such as the development board.
However, Penn National has withheld more than $900,000 from the board since May after Penn National filed a breach-of-contract lawsuit against the nonprofit.
Information from: Sioux City Journal, http://www.siouxcityjournal.com