BOYD EXECUTIVE ASSURES MERCHANTS BOAT WILL COME

Boyd Gaming Corp. has invested $6 to $7 million in Cape Girardeau.

Maunty Collins, senior vice president and director of operations for Boyd's central region, told a group of downtown merchants and city officials Wednesday morning the company "is not about to walk away from several million dollars."

Collins was in Cape Girardeau to further explain why the Las Vegas-headquartered company had announced Monday a delay in applying for a gambling riverboat permit for the Cape Girardeau.

"The delay was bad news," Collins said, "but, the good news is that Boyd will be in Cape Girardeau. It's just a matter of time."

A group of 25 people crowded into Boyd's downtown Cape Girardeau office, 110 Themis, to hear Collins' assurances the $51.2 million riverboat casino project was still on here.

"We have a lot of money tied up here," Collins told the group. The company has purchased downtown property from Broadway north to the old shoe factory site. Also involved in the overall costs are engineering and architect fees, election costs, and the maintaining of an office here that employs two people. "We will continue to keep that office in Cape Girardeau."

A primary reason for the delay is the search for a site along the Mississippi River.

The Boyds are looking at a site 500 feet north of the Broadway floodgates. "The Riverboat Pilots Association would like to see us 750 feet north of the gate," Collins said, "but, we feel the site is something that can be worked out in time. We're only talking a few hundred feet."

Without a site, the possibility of being selected by the Missouri Game Commission in the next "Q" was probably nil, he said.

The delay also allows the company to complete its development agreement with the city, and to start making improvements on its property.

"We have some buildings that need to be removed," Collins said, adding the company will take bids on building demolition and cleanup work soon.

Collins also told the group the riverboat for Cape Girardeau was 97 percent complete at a Louisiana shipyard.

Some downtown merchants expressed disappointment with announcement of the delay but pledged their support of the project.

Joe Low, a downtown merchant, expressed the feelings of most of those present Wednesday: "We're disappointed, but we're still behind you."

Meanwhile, the gaming commission is processing Boyd's application for the $116 million Kansas City gambling operation. An announcement on that application is expected this month or next.

The commission will announce this week the gaming companies selected for investigation over the next year.