A first look at what could be in the cards for a land-based casino in Davenport. Three developers submitted proposals with very different concepts. Two companies want to locate downtown completely, a third wants to split the gaming license between a facility downtown and another near the interstate. Each one is hoping to maximize gaming for Davenport's economy.
First up, Restoration St. Louis, a familiar developer for Davenport, has a concept called "City Square."
"Take two historic towers and build a bran new casino right behind it," said Amrit Gill, President and COO of Restoration St. Louis.
The area bound by 2nd and 3rd Streets and Main and Brady currently houses the Putnam and Parker towers. The plans include a 34,000 square foot casino floor, restaurants, a hotel with a roof-top nightclub, office space, and parking. It's a total $155 million investment with several financing options on the table, including: "that the city will have zero investment, yet 75 percent of the return," added Gill.
Minnesota based Ingenus Management wants to what's called bifurcate the gaming license, split a $100 million investment into two separate facilities. "Satisfy the interest in keeping energy and development downtown while also maximizing the opportunity at the interstate," said President and CEO Ken Mimmack.
The first phase would be a hotel/casino on about 40 acres near Interstate 80 and I-280 to house up to 1,200 gaming machines. The second, to build a "boutique" casino attached to the RiverCenter for more high-end, private gaming and another up to 200 gaming machines.
"The uniqueness of the boutique casino, what we think that would bring to the downtown entertainment community, is young and exciting," added Mimmack.
Finally, Atrium Holding Company, current owner of the Radisson in Davenport, wants to convert that building downtown into a hotel/casino. Company reps were not present at the media briefing Thursday. City Administrator Craig Malin said they had travel issues due to inclement weather. City leaders say this final option could produce results the fastest.
"We've known for a long time when we come off the water and go on land business will increase and the Radisson proposal offers a very quick solution to that," said Alderman Bill Boom.
