Fort Madison, IA – Great River Entertainment owns the new Catfish Bend Casino in Burlington and the Fort Madison-based Catfish Bend Riverboat.
Now, the company's plan to build a land-based casino in Fort Madison is in question.
C-E-O Gary Hoyer says Great River Entertainment has suspended any consideration of the project for at least two years.
He says the funding for the land-based casino in Fort Madison is not available.
Hoyer says that is due, in large part, to lower revenue and attendence numbers from the current casinos.
Catfish Bend Riverboat used to be the only casino in Southeast Iowa as the facility split the year between Fort Madison and Burlington.
He says the initial goal was to have the new casino on Fort Madison's west side open by the end of 2008.
Additional Information
* Great River Entertainment owns land, which could be used for the casino, on Fort Madison's west side.
* Hoyer says Great River Entertainment must stabilize operations and reevaluate our future plans and objectives.