Elite Casino Resorts to acquire Catfish Bend Casino and FunCity Resort in Iowa
The casino has signed an agreement to acquire Great River Entertainment’s assets and operations.
US.- Elite Casino Resorts has signed an agreement to acquire the assets and operations of Great River Entertainment, which include Catfish Bend Casino and FunCity Resort in Burlington, Iowa. The transaction will see the Kehl family return to ownership, along with more than 1,200 Iowa unitholders.
The Kehl family, the majority owners of Elite, were involved in launching casino gaming in Burlington before selling the original riverboat casino to Randy Winegard. Elite has pledged a smooth transition for all team members, who will continue in their roles.
Elite CEO Dan Kehl said: “This feels like coming home. Our family’s history with Burlington and Southeast Iowa goes back to the earliest days of Iowa gaming. Bringing Catfish Bend and FunCity back into the fold allows us to honor that past while building toward an exciting future of growth, investment, and community partnerships.
“Burlington and all of Southeast Iowa have always been close to our hearts. When Catfish Bend started in 1994, I moved my young family to Fort Madison to oversee riverboat operations. Now my sons are grown and part of the family business, and bringing this property back truly feels like a homecoming. Randy Winegard and Gary Hoyer have been great leaders for Catfish Bend and the community. We look forward to maintaining and building on their legacy.”
Elite’s portfolio includes Riverside Casino & Golf Resort and Rhythm City Casino Resort in Iowa, Grand Falls Casino & Golf Resort in South Dakota, Walker’s Bluff Casino Resort in Illinois, Grand Island Casino Resort and Lake Mac Casino Resort and Racetrack in Nebraska.
Penn announces plans for new casino to replace riverboat gaming operations in Iowa
Penn Entertainment recently announced plans for an expected $180m–$200m project to relocate operations from Ameristar Casino Hotel Council Bluffs riverboat casino in Iowa to a new, land-based property. The venue will be rebranded as Hollywood Casino Council Bluffs.
The proposal was approved by the Iowa Racing and Gaming Commission (IRGC), with a 15-year extension of Ameristar’s partnership with the nonprofit Qualified Sponsoring Organization (QSO) Iowa West Racing Association. Commercial operators in Iowa are required to have an operating agreement with a QSO licensed to conduct gaming operations.
