The Catfish Bend riverboat casino, docked in Riverview Park in Fort Madison, Iowa, is on the verge of being sold, pending approval by the Iowa Racing and Gaming Commission. Gary Hoyer, chief executive officer of Great River Entertainment said, “I have an agreement under contract with a prospective buyer. The contract is subject to the prospective buyer being satisfied with his inspections. I expect that by mid-December it will close if it is going to.”
Hoyer said the broker informed him the buyer plans to open a restaurant in the long-vacant vessel once it is transported to the Gulf Coast of Mississippi or Louisiana.
Hoyer noted the boat “actually floating with the shore-side edge resting on mud. But it won’t be any trouble to turn the engines and get it out with the bow thrusters.”
He said financing of the vessel is scheduled to close December 9, and it will be moved before the Mississippi River locks close before the end of the year.
