Word: riverboats
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...Illinois has approved 10 riverboat gambling licenses, good for two vessels each. The first boat could cruise from Alton this summer. Unlike Iowa, where passengers are limited by law to $200 in losses per cruise, those in Illinois will be able to place unlimited bets...
...Missouri will put riverboat gambling to a state vote. As proposed, passengers would have a $500 cap on their daily losses...
...romantic aura of the mighty Mississippi provides additional appeal. By harking back to the time of frock-coated dandies and hoopskirted belles, the modern riverboats evoke memories of an era at once more daring and less threatening. "A riverboat is nostalgia, Americana," says John Connelly, owner of the gaudy President, a 297-ft. five-decker that docks in Davenport, Iowa. "A gambling casino is something completely different...
...long? Though the paddle wheels have barely started churning, a riverboat race has begun. Illinois is trumpeting the enticements of unlimited wagering and dismissing its Iowa competition as penny-ante stuff for beginners. "The bettor is the loser when you have a limit," says Illinois state senator Denny Jacobs. "There's no way for him to win back his money in a four-hour cruise...
...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...