Page 53: of Maritime Reporter Magazine (January 1995)

Riverboat Gaming News — State By State der construction by Jeffboat of

Jeffersonville, Ind., for delivery by

April 1995. The boat will be 310 ft. (94.5-m) long and 70 ft. (21.3-m) wide, with a capacity of 2,500 pas- sengers and a crew of 300. • A casino with 1,150 slot machines and 70 table games on the boat. • A 250-room hotel. • The Riverfront Pavilion, an enter- tainment complex for pre-boarding facilities, restaurants, lounge and retail shops.

Dearborn County at all, let alone to the partnership.

Argosy Gaming Company owns and operates the Alton Belle Ca- sino II, the first riverboat gaming casino in Illinois and in metropoli- tan St. Louis; the Argosy Riverside

Casino, the first riverboat gaming casino to operate in the Kansas

City River market; and theBelle of

Baton Rouge Casino, the first riverboat gaming casino to operate in the Baton Rouge, La. market. Ar- gosy also manages and operates the

Belle of Sioux City, the only riverboat casino to operate in the Western Iowa market.

Argosy To Acquire Jazz

Argosy Gaming Company has agreed with Jazz Enterprises and its affiliates—Argosy's limited part- ner in the Belle of Baton Rouge

Casino and the developer of the adjacent real estate project known as Catfish Town — to acquire 100 percent of Jazz's stock.

The transaction will result in

Argosy acquiring Jazz's 10 percent limited partnership interest in the casino.

Under the terms of the agree- lllinois

Argosy'* $ 138M Lawrenceburg Awaits OK

The company (through a wholly- owned subsidiary) and its joint ven- ture partners, including an affiliate of Conseco Inc., entered into an agreement of Limited Partnership on April 12, 1994 for the purpose of developing a riverboat casino in

Lawrenceburg, Ind.

Under the terms of the partner- ship agreement, the company's sub- sidiary (which is a 60 percent owner and the sole general partner and manager of the project) would re- ceive a management fee of 9.375 percent of operating profits for the first five years and 12.5 percent for the next 15 years.

The partnership filed its formal application with the Indiana Gam- ing Commission on April 13, 1994, along with 10 other organizations competing for a gaming license in

Lawrenceburg, Ind. (in the Cincin- nati, Ohio area) on the Ohio River.

The joint venture submitted a pro- posal to the city of Lawrenceburg to develop a $138 million casino enter- tainment complex to include a 100,000-sq.-ft. casino providing ap- proximately 1,900 slot machines, 80 table games and accommodating approximately 3,000 passengers, a 250-room hotel, 160,000-sq.-ft. pa- vilion, parking garage and marina.

As part of the proposal the partner- ship would also provide approxi- mately $21 million for infrastruc- ture improvements, a new sewage treatment plant and roadway im- provements.

On June 8, 1994 the partnership was one of three potential casino operators that were endorsed by the

City Council of Lawrenceburg to operate a riverboat casino in their community. The city submitted its endorsements to the Indiana Gam- ing Commission which is solely re- sponsible for the issuance of a gam- ing license. The Commission is ex- pected (but not required) to con- sider the endorsements as one of the many factors in determining who will ultimately receive a gaming li- cense in Indiana.

Dearborn County, where

Lawrenceburg is located, approved a countrywide proposition on No- vember 2, 1993 to authorize riverboat gaming. The Commis- sion has not announced, following the issuance of the Supreme Court ruling, when it expects to consider applicants for Dearborn County and surrounding areas. The company does not anticipate that such appli- cants for Lawrenceburg will be re- viewed by the Indiana Gaming Com- mission before early 1995. It is not guaranteed that a license will be issued for Lawrenceburg or

January, 1995

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