SIOUX CITY-Penn National Gaming Inc. submittedtwo proposals to the Iowa Racing & GamingCommission (IRGC) for two new casinos with all-in costs of$327 million. The Wyomissing, PA based casino owner, developer andoperator joined two other groups hoping to plant their ownentertainment and casino operations in and around the Sioux Cityarea and in Woodbury County.

The plans are being submitted as part of a move to replace thecurrent Argosy Casino riverboat with a land-based casino. ArgosyCasino is currently docked on the Mississippi River and operated byPenn National. According to local reports, the IRGC put WoodburyCounty's license up for bid after talks failed on a long-term dealbetween Penn National and Missouri River HistoricalDevelopment.

The first plan submitted by Penn National involves a100,000-square-foot Hollywood Casino Sioux City to be built on 10acres in what was dubbed a "preferred casino zone" by the SiouxCity Planning Division. In addition to a 33,000-square-footcasino floor with slot machines and live table games, the facilitywould offer dining, a 6,000-square-foot multi-purpose event centerwith a 500-seat venue and a potential phase II expansion offering a150-room hotel.