Gaming commission leery of proposed casinos - KWWL - Eastern Iowa Breaking News, Weather, Closings

Gaming commission leery of proposed casinos

WATERLOO (KWWL) -- The Iowa Racing and Gaming Commission is raising questions about financing for proposed casinos in Tama County and Ottumwa.

The commission recently received four applications for projects in Lyon and Tama counties as well as Fort Dodge and Ottumwa.

40 million dollars in financing has been committed to the Tama county project. That project will be funded half by financing and half from the sale of stocks, but state regulators said they are not willing to wait for a full list of investors.

The commission is scheduled to decide on new casino licenses at its May 13th meeting.

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