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Peninsula Gaming, LLC was a casino operator based in Dubuque, Iowa, with five properties in Iowa, Louisiana, and Kansas. It was acquired by Boyd Gaming in 2012.
History[edit]
In January 1999, Los Angeles-based AB Capital agreed to purchase the Diamond Jo Casino in Dubuque, Iowa for $77 million.[1] The company's major shareholders were Los Angeles investment banker Brent Stevens and Las Vegas gaming developer Michael Luzich.[2] The purchase was completed in July 1999,[3] by which time the company had changed its name to Peninsula Gaming.[4]
In February 2002, Peninsula bought a fifty percent interest in the Evangeline Downs racetrack in Lafayette Parish, Louisiana from B. I. Moody for $15 million.[5] They bought the remaining half several months later from William Trotter for another $15 million, plus 0.5% of slot revenues for the first ten years.[6] After Lafayette voters had rejected slot machines at the track, Evangeline Downs had planned a move to St. Landry Parish, which Peninsula carried out. The casino at the new site opened in late 2003,[7] with races following in 2005.[8]
In 2004, Peninsula announced a proposed sister casino to the Diamond Jo, to be built in Worth County, Iowa at a cost of $40 million.[9] The project was awarded a gaming license in May 2005,[10] and the Diamond Jo Worth opened in April 2006.[11]
In 2009, Peninsula proposed building a $150-million racetrack casino in Des Moines, Iowa that would be a sister property to the Prairie Meadows racino.[12] Prairie Meadows ultimately rejected the plan.[13]
In June 2009, Peninsula agreed to buy the Amelia Belle riverboat casino in Amelia, Louisiana from Columbia Sussex for $106.5 million.[14] The purchase closed in October 2009.[15]
In November 2009, the company partnered with a group of local investors in a proposal to build a casino in Fort Dodge, Iowa.[16] The application for Diamond Jo Fort Dodge[17] was ultimately rejected by the Iowa Racing and Gaming Commission, over concerns that the casino would draw too much business from the Wild Rose Casino in Emmetsburg.[18] Criminal charges were later filed against Peninsula and two of its executives, alleging that they improperly funneled $25,000 in campaign contributions to Governor Chet Culver through three of the Fort Dodge investors.[19] The case was ultimately settled, with the criminal charges being dismissed and Peninsula agreeing to pay the costs of the investigation plus a $4,000 civil penalty.[20]
In 2010, Peninsula held discussions with the city of Davenport, Iowa about redeveloping or replacing the Rhythm City Casino, but the company withdrew to focus on its proposed Kansas casino.[21]
In July 2010, Peninsula submitted a bid for the sole available casino license in south central Kansas, proposing to build the Kansas Star Casino in Mulvane.[22] The proposal was selected as the winner,[23] and Peninsula opened the casino in a temporary facility in December 2011,[24][25] moving to a permanent facility in December 2012.[26]
South Pacific Casino Las Vegas
In May 2012, Boyd Gaming agreed to buy Peninsula Gaming for $1.45 billion.[27] Boyd executives particularly emphasized the high growth potential of the Kansas Star Casino.[28] The acquisition was completed on November 20, 2012.[29]
Properties[edit]
- Amelia Belle Casino — Amelia, Louisiana
- Diamond Jo Casino — Dubuque, Iowa
- Diamond Jo Casino — Northwood, Iowa
- Evangeline Downs Racetrack & Casino — Opelousas, Louisiana
- Off-track betting parlors in Eunice, Henderson, Port Allen, St. Martinville
- Kansas Star Casino — Mulvane, Kansas
Island Pacific Casino Biloxi
References[edit]
Pacific Poker
- ^Mike Krapfl (January 17, 1999). 'Diamond Jo owners OK sale'. Telegraph-Herald. Dubuque, IA – via NewsBank.
- ^Renee Berg (May 23, 1999). 'New owners to run Diamond Jo from afar'. Telegraph-Herald. Dubuque, IA – via NewsBank.
- ^Renee Berg (July 16, 1999). 'Local riverboat investors hit jackpot with sale'. Telegraph-Herald. Dubuque, IA – via NewsBank.
- ^Renee Berg (July 7, 1999). 'Diamond Jo one step closer to completing sale'. Telegraph-Herald. Dubuque, IA – via NewsBank.
- ^'Peninsula Gaming eyeing full ownership of Evangeline Downs'. The Blood-Horse. August 2, 2002. Retrieved 2012-05-17.
- ^Hector San Miguel (September 6, 2002). 'With sale, Evangeline Downs poised for big move'. The Blood-Horse. Retrieved 2012-05-17.
- ^Hector San Miguel (December 20, 2003). 'Evangeline Downs gets early Christmas present'. The Blood-Horse. Retrieved 2012-05-17.
- ^Tom LaMarra (April 7, 2005). 'New Evangeline Downs breaks from gate'. The Blood-Horse. Retrieved 2012-05-17.
- ^M.D. Kittle (November 17, 2004). 'Diamond Jo parent eyes 2nd Iowa casino'. Telegraph-Herald – via NewsBank.
- ^M.D. Kittle (May 12, 2005). 'Diamond Jo firm hits jackpot'. Telegraph-Herald. Dubuque, IA – via NewsBank.
- ^M.D. Kittle (April 6, 2006). 'Diamond Jo's sister casino opens today'. Telegraph-Herald. Dubuque, IA – via NewsBank.
- ^'New pitches cloud Iowa's casino landscape'. The Quad-City Times. Davenport, IA. August 25, 2009 – via NewsBank.
- ^'Gaming officials: Second Des Moines casino dead'. Telegraph-Herald. Dubuque, IA. August 28, 2009. Archived from the original on September 24, 2015. Retrieved 2012-05-16. – via HighBeam (subscription required)
- ^'Amelia Belle sale pending'. The Daily Review. Morgan City, LA. June 23, 2009 – via NewsBank.
- ^'Amelia floating casino has new owner'. The Daily Review. Morgan City, LA. October 30, 2009 – via NewsBank.
- ^'Key participants in the Fort Dodge casino bid'. Des Moines Register. April 18, 2010. Retrieved 2015-04-15.
- ^Bill Shea (March 24, 2010). 'Diamond Jo leaders make their case'. The Messenger. Fort Dodge, IA. Retrieved 2015-04-15.
- ^Bill Shea (May 14, 2010). 'IRGC says no casino'. The Messenger. Fort Dodge, IA. Retrieved 2015-04-15.
- ^Rod Boshart Lee (October 11, 2010). 'Prosecutor files charges for illegal contributions to Culver'. Sioux City Journal – via NewsBank.
- ^'Prosecutors in Culver campaign contribution: Settlement was 'in the best interest of justice''. Des Moines Register. AP. October 3, 2012. Retrieved 2015-04-15.
- ^Kurt Allemeier (November 5, 2010). 'Davenport to consider $75M casino plan'. The Quad-City Times. Davenport, IA – via NewsBank.
- ^Fred Mann (July 23, 2010). '3 groups competing for Sumner Co. casino'. Wichita Eagle. Retrieved 2015-04-15.
- ^'Board: Mulvane site has more revenue potential'. Winfield Daily Courier. AP. December 16, 2010. Retrieved 2014-12-04.
- ^'New casino may draw 2 million-plus visitors'. Topeka Capital-Journal. AP. December 9, 2011. Retrieved 2014-11-21.
- ^'Peninsula's new Kansas casino nets $3.25M'. Telegraph-Herald. Dubuque, IA. December 31, 2011. Archived from the original on March 29, 2015. – via HighBeam (subscription required)
- ^John Stearns (December 21, 2012). 'Kansas Star Casino opens rest of permanent casino'. Wichita Business Journal. Retrieved 2014-11-21.
- ^Chris Sieroty (May 16, 2012). 'Boyd Gaming to buy Peninsula Gaming for $1.45 billion'. Las Vegas Review-Journal. Retrieved 2015-04-15.
- ^John Stearns (May 16, 2012). 'Kansas Star Casino is Peninsula's 'jewel,' Boyd Gaming says'. Wichita Business Journal. Retrieved 2015-04-15.
- ^'Boyd completes $1.45 billion acquisition of Peninsula Gaming'. Vegas Inc. November 20, 2012. Retrieved 2012-11-20.