Kehl think they have development in sight
Posted by Carl Barnett on 23 Mar 2010 at 15:03
Investors are looking for funds for a major casino development in Lion County, Iowa.
Developers of a proposed country club and casino development have made a pitch at a country club in Sioux City.
The team who are developing the complex have tried to reach out to a number of potential investors in their attempt to get ten developments up and running.
They planned to reach out to 500 ‘in state’ investors as part of their fundraising drive, and the Sioux City pitch is the last stop on the state wide tour.
The body that has the decision to make, The Iowa Racing and Gaming Commission, plans to make the choice as regards to the developers on May 13th.
Kehl Management, the developers, say that they are very close to gaining the type of levels of funding they need to push the project through to the initial stages of development.
The devolvement will cost $110 million, and the Kehl family are placing $50 million on the table as part of their commitment to the enterprise.
Dan Kehl of Kehl Management spoke to Ktiv.com on the funding issues, saying: ‘More equity and less debt. If people want to invest, we are within ten per cent of the goal.’
Gambling is enjoying a rise in popularity, but more so in the online gambling market, where online casinos are seeing massive profits even as they face further regulation.
