Last
week, Isle of Capri (IOC) notified the City of Davenport that it was
putting its 11-story casino hotel, to be located on the downtown
riverfront, on hold while it studies alternatives to the current
riverboat-casino model.
The
screeching citizens are hearing is IOC's brakes slamming as it hits
the predicted financial wall. During September and October, both
properties (Isle of Capri in Bettendorf and Rhythm City Casino in
Davenport) lost 12 percent of their combined revenues to the newly
opened Riverside Casino & Golf Resort in Riverside, Iowa.
IOC
is finally getting serious competition not only from Riverside, but
also Jumer's Casino Rock Island, which is currently constructing a
facility on Interstate 280 on the outskirts of Rock Island.