GAMBLING GROUP SIGNS WITH WYATT

WYATT, Mo. -- The Royal Casino Group of California has entered into a 25-year docking and franchise agreement with Wyatt officials to establish a riverboat casino and entertainment center on the Mississippi River near the confluence of the Mississippi and Ohio Rivers.

The site, which has been annexed by Wyatt, is near the Bird's Point area and is visible from Interstate 57, a main north-south artery from Chicago to New Orleans and U.S. Highways 60-62. The location also is only 20 minutes from Interstate 55, a primary artery from St. Louis to New Orleans.

"This could be the beginning of a new prosperity for our city and county," said Riley Fitzgerald, Wyatt mayor. "The riverboat will provide 300 badly needed full-time jobs and generate a $6 million annual payroll for our community. Our city council enthusiastically endorses Royal's Master Plan."

Fitzgerald points out, however, that the process could be a lengthy one. "Royal will file its application with the Missouri Gaming Commission in the near future," he said.

Royal Casino Group plans include a riverboat capable of carrying 1,000 passengers, with more than 500 slots and 20 table games. The project also will include a 7,400-square-foot visitor's center with a 150-seat buffet restaurant, lounge, ticketing area and a Missouri arts and crafts shop.

It is anticipated that a number of local investors will participate in the project.

Royal's philosophy is to develop, manage and own prosperous gaming properties in small to mid-sized niche markets, said Jon F. Elliott, president and CEO of Royal.

"Wyatt fits our corporate profile," added Elliott. "We have looked at riverboat locations throughout Southeast Missouri the past two years. This site is strategically and economically the best site on the Mississippi between St. Louis and Memphis."

Fitzgerald said Wyatt and Royal have been negotiating the agreement over the past two years.

The Missouri Gaming Commission announced earlier this year that it would process only three license applications over the next year, and none on the Mississippi River between St. Louis and Caruthersville.

Three companies may be in the running for a spot on the Mississippi between St. Louis and Caruthersville when the commission does starts looking at that territory again. The three are Lady Luck at Scott City, Boyd Gaming at Cape Girardeau and Royal Casino at Wyatt.

Of the three, only Lady Luck has filed for a gambling license from the commission. Both Lady Luck and Royal have signed development agreements with cities.