Last week's announcement that the Rhythm City Casino's parent company, Isle of Capri, was reconsidering its contentious casino-hotel project on the Davenport riverfront tells you all you need to know about the future of casinos in Iowa: It's bleak.
In Quad-City Times articles on Friday, Isle of Capri officials claimed that competition from the Riverside Casino & Golf Resort - which opened south of Iowa City on August 31 - has dramatically cut into admissions and revenues at the Isle's two Quad Cities properties. The Isle of Capri in Bettendorf and Rhythm City in Davenport saw their combined adjusted gross revenues drop by nearly 12 percent in September and October compared to those months in 2005.
From here gaming companies will engage in casino arms races in which they will need to continually build bigger, more extravagant facilities merely to maintain market share.







