Three Iowa casinos combined to form Elite Casino Resorts
Dan Kehl, CEO of Kehl Management, received approval from the Iowa Racing and Gaming Commission to consolidate the ownership of the three Iowa casinos they manage in Riverside, Larchwood and Davenport Iowa.
The boards and unit holders of all three properties carefully considered the consolidation proposal and voted in May to approve the plan overwhelmingly.
“We are excited about combining the strengths of our three great properties. We will continue to bring a world-class experience to our guests while finding cost savings and efficiencies in a multi-property company,” said Dan Kehl, CEO of Elite Casino Resorts.
Kehl added, “This consolidation makes our company stronger. We will be better positioned to cross market between the properties, bring in top-notch talent and offer the best service and amenities to our guests.” “Our employees, management and Iowa investors have built this company from the ground up. It’s a tribute to their hard work that Elite Casino Resorts exists.”
Elite Casino Resorts will employ over 1,500 people and generate over $225 million in revenue each year making it the second largest revenue producer in the state.
Kehl Management and the Kehl family have been pioneers in the Iowa Gaming Industry after receiving the first Iowa Riverboat license in 1990. Their first land-based casino in Riverside Iowa featured and Rees Jones designed golf course, hotel and spa which raised the bar for casino amenities in Iowa. Rees Jones’ most recent Iowa course, The Falls at Grand Falls Casino opened last month to rave reviews from golf publications.