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Iowa Casinos Reach Agreement with Greyhound Racers

Iowa Casinos Reach Agreement with Greyhound Racers

Two Iowa casinos have reached an agreement with the Iowa Greyhound Association to end racing at one casino and keep it at the other indefinitely.

The agreement will see racing end at the Mystique Casino in Dubuque and continue at Bluffs Run Greyhound Park in Council Bluffs. Bluffs Run will pay $65 million over seven years to the greyhound pari-mutuel fund and a further $20 million in purse supplements while racing continues.

The agreement also calls for the city of Dubuque to lease the track to the Iowa Greyhound Association for five years with an option to renew the agreement for another five years.

Senate President Pam Jochum said, “I think this satisfies everyone to the extent possible.” She went on to explain that the casinos have been seeking a way out of their obligation to host racing for the past eight years as they view it as a dead sport.

Sen. Jeff Danielson praised those involved for reaching a solution in an “elegant, simple way that can work going forward.”

Half of the money will go into a “soft landing” retirement fund for dog owners and breeders who wish to leave the industry, the other half of the money will be used to support the industry’s “second chance” at the Dubuque track.

OCA News Editor

Jenny McKinnley is OCA’s financial correspondent. After spending years on the trading floor in both NY and London, she offers insight from the inside out on world financial news and events.

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