Word: emeralds
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...traditionally cocked a snoot at natural restrictions, rolled up their sleeves and hacked or drilled the world of their dreams out of the wilderness. Something in the Western temperament strives mightily to deny that much of the region is a desert -- witness the tropical extravagance of Beverly Hills, the emerald golf courses of Palm Springs, the ubiquitous swimming pools throughout the West...
...Iowa's boats, with low betting limits and small capacities (Emerald Lady can comfortably accommodate only 700 passengers; President, 1,600), pose little threat to Las Vegas and Atlantic City. But as the new industry expands, it could change America's recreation and travel patterns, drawing tourists and gamblers away from the tawdry glitz of traditional gambling towns. To prevent the seediness and crime that often accompany casino gambling, Iowa legislators have capped wagers at $5, and Fort Madison's planning and zoning board is drafting a new ordinance to ban neon signs. "This is a family affair," says Dick...
...competitive hype points to a harsh reality: as surely as a flush beats a straight, some of the riverboat ventures are destined to fold. "I am concerned about saturation if every state gets it," admits Bernard Goldstein, owner of Emerald Lady and Diamond Lady, which docks in Bettendorf, Iowa. Michael Jones, director of the Illinois state lottery through the mid-1980s, warns that the potential audience for the novelty cruises may be smaller than boosters imagine. For one thing, he notes, lottery players and higher-stakes gamblers are different animals. While lottery enthusiasts may sample riverboat gambling once or twice...
...1980s, the town's largest employers -- Sheaffer and Chevron -- staged devastating layoffs. Although citizens liked to boast that Fort Madison was "a place where you can raise kids," many drifted away; since 1987 the town's tax base has dwindled 20%. To attract Goldstein and his $10 million Emerald Lady, Fort Madison floated a $2.2 million bond issue that financed a waterside pavilion, a walkway and parking lots. In return, city fathers expect annual revenues of as much as $300,000 -- if the venture succeeds...
...good. More than 500 workers -- mostly waitresses, croupiers and maintenance staff -- were employed for Emerald Lady's launching, and Fort Madison has benefited from the 40% rise in tourist information requests statewide. Local officials trust that their investment will be covered by the ship's dock fees, a 0.5% tax on gross gambling receipts and a 50 cents charge the town levies on each passenger. "The boat is breathing new life and enthusiasm into the town," says Father Robert McAleer of St. Mary's Roman Catholic Church. "There's exuberance over something...