By 1992, his two boats were losing millions of dollars. Madison, Iowa.īut then Illinois passed its own riverboat gambling law, without the betting limits that were in place in Iowa, and Goldstein's bet went sour. Within months, Goldstein floated a second boat, the Emerald Lady, which operated down the river in Burlington and Ft. "A lot of farm implement manufacturing plants were closing down, unemployment was way up, and the bumper stickers were saying, `Last one out of town, turn off the lights,'" he recalled. His motivation, Goldstein said, was economic development for the depressed Quad Cities area-Rock Island and Moline in Illinois and Bettendorf and Davenport across the river in Iowa. "I thought we ought to look into it."Īfter Iowa became the first state to legalize riverboat gambling, Goldstein opened the Diamond Lady in Bettendorf, Iowa, on April Fool's Day in 1991. We're the only ones in Iowa with pilots and engineers on the Mississippi,'" he recalled Tuesday. "I said, `We're in the barge line business.
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