(Associated Press)
KANSAS CITY, Mo. - Argosy Gaming Co., which completed a $105 million expansion of its Kansas City-area casino in December, has announced plans for another major improvement, including the addition of a hotel and parking garage.
The company, based in Alton, Ill., said Monday it plans to spend $75 million on the 250-room resort hotel and 1,400-space parking garage at Argosy Casino Riverside.
In December, Argosy finished a new 60,000-square foot one-level casino replacing Argosy's original riverboat, which opened 10 years ago as the Kansas City area's first casino.
The company said revenue for the first five months of 2004 rose 56.9 percent from the year-ago period, and that its share of the Kansas City market increase from 15.7 percent in the first five months of 2003 to 22.2 percent for the comparable period this year.
"Having raised the bar with our recent expansion, we plan to have a very exciting hotel product aimed at retaining our high-value customers as well as attracting a new customer segment," said Richard J. Glasier, Argosy president and CEO.
Argosy said that pending needed approvals for the project, it plans to start work on the parking garage in August and have it completed in the third quarter next year. It said the hotel is expected to open in the second quarter of 2007.
The company said it expects the project to provide between 300 and 400 construction jobs, and 50 new permanent jobs once it is completed.
KANSAS CITY, Mo. - Argosy Gaming Co., which completed a $105 million expansion of its Kansas City-area casino in December, has announced plans for another major improvement, including the addition of a hotel and parking garage.
The company, based in Alton, Ill., said Monday it plans to spend $75 million on the 250-room resort hotel and 1,400-space parking garage at Argosy Casino Riverside.
In December, Argosy finished a new 60,000-square foot one-level casino replacing Argosy's original riverboat, which opened 10 years ago as the Kansas City area's first casino.
The company said revenue for the first five months of 2004 rose 56.9 percent from the year-ago period, and that its share of the Kansas City market increase from 15.7 percent in the first five months of 2003 to 22.2 percent for the comparable period this year.
"Having raised the bar with our recent expansion, we plan to have a very exciting hotel product aimed at retaining our high-value customers as well as attracting a new customer segment," said Richard J. Glasier, Argosy president and CEO.
Argosy said that pending needed approvals for the project, it plans to start work on the parking garage in August and have it completed in the third quarter next year. It said the hotel is expected to open in the second quarter of 2007.
The company said it expects the project to provide between 300 and 400 construction jobs, and 50 new permanent jobs once it is completed.
