Four Iowa casino groups meet state's financing deadline

Four applicants for Iowa casino licenses have met the state's deadline to show they have secured financing commitments.

The projects, which range from $40 million to $120 million, are proposed for Ottumwa, Fort Dodge and rural Lyon and Tama counties.

Last fall, the Iowa Racing and Gaming Commission extended to the deadline to Thursday because of the economic recession and concerns that some of the applicants could have trouble securing financing.

State regulators will meet next week in Johnston to review the paperwork. A final decision on awarding new casino licenses is expected on May 13.

Iowa currently has 17 state-regulated casinos and two American Indian casinos. A casino near Onawa operated by Omaha Tribe of Nebraska closed last summer.

-- Associated Press