Building permits issued for the Bettendorf sports complex at Middle and Forest Grove Road total $38 million, some $8 million less than the $45 million value specified in the agreement with BettPlex developer Douglas Kratz.

Meanwhile, the cost of city infrastructure – sewer lines, stormwater facilities and street improvements to serve the 79-acre complex – is expected to be well above the $3.87 million specified in the same development agreement.

The sports complex builder, Build To Suit of Bettendorf, obtained the building permit August 28. The permits listed the building cost of $28.6 million, electrical work $4.11 million, heating/air conditioning $1.85 million and plumbing costs of $950,000, for a total value of $35.5 million. Two months ago, the developer obtained a permit for the sports complex foundation for more than $2 million.

The move to a new land-based casino in June of last year has reversed a decade long decline in gamblers and gambling revenue at Bettendorf's Isle of Capri.

For the fiscal year ended June 30, the Isle (now owned by Eldorado Resorts, Inc. of Reno, NV) attracted more than 1 million gamblers, up more than 30 percent from fiscal 2016. With more admissions, the Isle's adjusted gross revenue climbed to $77.5 million, up more than 11 percent compared with the previous fiscal year.

Both numbers are still far below the heyday for casino gambling. Admissions at the Isle of Capri peaked at more than 2 million in 2000, while adjusted gross revenues reached a high of $105 million in 2004.
A similar rebound also was seen at Davenport's Rhythm City Casino with the opening of a new land-based facility in June of 2016.

After reporting an upswing in third quarter earnings Thursday (8/3), Lee Enterprises, Inc. executives told analysts the company will look to widen the use of cash flow beyond debt reduction and may seek additional print or digital acquisitions.

The Davenport-based media company acquired its Quad Cities newspaper competitor, The Dispatch-Argus, in June for $7 million. The Dispatch-Argus primarily served the Illinois Quad Cities (East Moline, Moline and Rock Island), while the Quad City Times serves mainly readers in the Iowa Quad Cities (Bettendorf and Davenport).

"We expect the acquisition to be accretive to earnings and free cash flow in our September (4th) quarter," President and Chief Executive Officer Kevin Mowbray said. "The transition is off to a good start and we are pleased with the contributions we are already seeing from the Dispatch-Argus."

Bettendorf taxpayers will pay far more for streets, sewers and stormwater detention than the $3.87 million stipulated in the contract with the Bettendorf sports complex developer.

In private 3-on-3 meetings with aldermen July 5, city officials outlined a summary of estimated infrastructure costs for the sports complex showing construction bids received so far are $844,000 above the cap set in the development agreement between the city and developer Douglas Kratz.

In a libel lawsuit filed last week, ex-Davenport City Administrator Craig Malin claims the Quad City Times published false and misleading statements to "run him out of town" because of "his leadership in expanding access to public information, which the Quad City Times openly opposed."

The lawsuit filed June 15 in Scott County District Court names Lee Enterprises, owner of the Quad City Times, in addition to the newspaper and reporters Barb Ickes and Brian Wellner.

More than 150 years of newspaper competition in the Quad Cities will draw to an end later this month with purchase of the Dispatch-Argus and its digital portal QCOnline.com by Lee Enterprises, Inc., owner of the Quad City Times.

The $7.15 million acquisition (including an adjustment for working capital) was announced today (6/19) and is expected to close by the end of the month.

CLICK HERE for observations on the newspaper sale by John Beydler, who recently retired from the Dispatch-Argus after a career of more than 40 years.

Iowa's leading anti-tax group – Iowans for Tax Relief – claims thousands of grassroots supporters but in reality the vast majority of its funds come from revenue – all untaxed – generated by multi-million dollar charitable endowments and private trusts established by the organization's founder, David M. Stanley.

Stanley, of Muscatine, died in August 2015, but his endowment funds and trusts continue to pour millions of dollars into the operation of Iowans for Tax Relief (ITR) and four other charitable organizations espousing a similar mantra of limited government and anti-tax messages, and funding like-minded conservative politicians for state and federal office.

The endowments underwrite more than a dozen management and staff positions in organizations pumping out a steady stream of propaganda on tax and government spending issues.

Upgrades to the jointly owned Davenport/Bettendorf sewage system over the past four years has led to "marked reductions" in untreated and partially treated sewage being dumped into the Mississippi River during flooding and after heavy rainfalls.

According to the annual report to the Iowa Department of Natural Resources (IDNR) filed April 1, the improvements to the sewage treatment plant and sewage collection systems in the two communities have "reduced sewer backups and overflows.

Lee Enterprises – owner of the Quad City Times – reported second quarter earnings Thursday (5/4) of $6.4 million, down 67 percent from the same period a year ago when a one-time insurance settlement added more than $13 million to the company's bottomline.

Net income for the three months ended March 26 was 11 cents per share compared with 36 cents per share for the same period a year ago.