Elite Casino Resorts recently received approval from Iowa regulatory authorities to proceed with the acquisition of the Catfish Bend Casino and FunCity Resort in Burlington. The transaction is expected to be completed on January 27, after which the casino will be renamed to Great River Casino Resort, reflecting its close connection with the Mississippi River. This acquisition not only marks an important step in the company's expansion but also has profound significance for the local community and historical heritage.
Details on the Approval and Renaming
The Iowa Racing and Gaming Commission has granted final authorization, allowing this transaction, announced earlier this year, to proceed as planned. After the transaction is completed, the Burlington casino will officially be renamed to Great River Casino Resort, a new name intended to highlight the region's river history. Elite Casino Resorts emphasizes that returning to the Burlington market is significant for them, akin to "coming home," as the founding family of the company played a key role in the early development of casinos in the area.
Historical Background and Community Impact
This acquisition holds special significance for the Kyle family, who helped introduce regulated casino gaming to Burlington. The renamed casino not only pays tribute to the Mississippi River but also reinforces Burlington's status as an entertainment destination. The company states that employee stability is a top priority, with all existing employees being invited to stay on and offered broader career development opportunities, such as cross-hotel training. This move is expected to strengthen local employment and community cooperation.
Facility Integration and Regional Expansion
Catfish Bend Casino boasts about 30,000 square feet of gaming area and is part of a large complex that includes accommodations and a water park. Elite Casino Resorts' acquisition will preserve these facilities while bringing new investment opportunities to the company. In addition to Iowa, the company operates multiple casinos in South Dakota, Illinois, and Nebraska, and this acquisition will help coordinate operations across multiple markets. The regulatory body's approval also reflects confidence in the project, and the company is grateful to shareholders and supporters, looking forward to collaborating with local organizations to facilitate the transition.
————
This article is from "PASA-Global iGaming Leaders," a gambling industry news channel:https://t.me/pasa_news
Original in-depth gambling channel:https://t.me/gamblingdeep
Free data reports: @pasa_research
PASA Matrix: @pasa002_bot
PASA official website: https://www.pasa.news
