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Miss Marquette Riverboat Casino
- Sodak purchased and refitted a riverboat and leased it to Gaming Supply Co., who opened it in December 1994 as the Miss Marquette casino, in Marquette, Iowa. After Gaming Supply defaulted on lease payments, Sodak bought out the company for less than $5.5 million, taking over operation of the casino in July 1996.
- Located among the beautiful bluffs of the mighty Mississippi River is the Casino Queen Marquette. Whether you're in the mood for some exciting gaming action, a delicious meal, or a great meeting place we have what you're looking for.
| Industry | Gaming |
|---|---|
| Founded | 1989 |
| Headquarters | Rapid City, South Dakota |
Sodak Gaming, Inc. was a gaming company based in Rapid City, South Dakota that distributed slot machines to Indian casinos and financed casino projects. It was acquired by International Game Technology (IGT) in 1999 for $230 million.
History[edit]
Lady Luck Casino Marquette: Riverboat casino - See 101 traveller reviews, 17 candid photos, and great deals for Marquette, IA, at Tripadvisor. Pinky and the Miss Marquette Riverboat Casino – Marquette, Iowa Pinky is the 14 ft. Tall, bleary-eyed elephant at the entrance of the casino. Welcoming visitors to the Mississippi’s first state-licensed gambling facility is the job that Pinky now holds.
Sodak was formed in 1989 to supply equipment to gambling halls in Deadwood, South Dakota,[1] and soon became the exclusive distributor of IGT machines to tribal casinos.[2] The Promus Companies acquired a 20 percent stake in Sodak in November 1992.[2] Sodak made its initial public offering in June 1993.[3]
Sodak purchased and refitted a riverboat and leased it to Gaming Supply Co., who opened it in December 1994 as the Miss Marquette casino, in Marquette, Iowa.[4] After Gaming Supply defaulted on lease payments, Sodak bought out the company for less than $5.5 million,[5] taking over operation of the casino in July 1996.[6]
The company moved into the South American market in an effort to diversify its revenue base.[7] In May 1995, it began establishing gaming halls and slot route operations in Peru, reaching a total of 1,300 machines by the end of 1996.[7][8] It opened a casino at the Crowne Plaza Hotel in Quito, Ecuador in March 1996, followed by a gaming hall in Rio de Janeiro, Brazil in June 1996.[7] In June 1998, Sodak announced its decision to divest its South American operations, citing a lack of profitability and an unstable regulatory environment.[9][10] The ventures in Ecuador, Peru, and Brazil were sold off by the end of the year.[11]
Sodak agreed in March 1999 to be acquired by IGT for $230 million.[12] As IGT executives did not want to operate casinos, the deal called for Sodak to sell the Miss Marquette casino and its interest in a Louisiana casino project.[13] The Miss Marquette was sold to Lady Luck Gaming for $42 million.[14][15] Sodak's partner in the Louisiana project, Hollywood Casino Corp., purchased Sodak's stake for $2.5 million.[16][17] The acquisition of Sodak by IGT was completed in September 1999.[18]
Following the acquisition, Sodak continued to operate out of Rapid City as a division of IGT, focused on distributing products to Indian casinos.[19] IGT began a reorganization of its North American businesses in 2005, which included dispersing Sodak's operations around the country, and phasing out the Sodak name.[19]
References[edit]
- ^Kafka, Joe (March 11, 1999). 'Rapid City gambling company to be sold'. Associated Press Newswire. – via Factiva (subscription required)
- ^ ab'Promus acquires interest'. Las Vegas Review-Journal. November 11, 1992. – via Factiva (subscription required)
- ^Rosato, Donna (July 1, 1993). 'Dow falls 2.77 as economic news worsens'. USA Today. – via Factiva (subscription required)
- ^'Miss Marquette boat overdue on Sodak pmnts'. Select Federal Filings Newswires. November 16, 1995. – via Factiva (subscription required)
- ^'Sodak Gaming/Buy: Valued at less than $5.5M in cash, note'. Dow Jones News Service. May 21, 1996. – via Factiva (subscription required)
- ^'Miss Marquette awash in red ink'. The Gazette. Cedar Rapids, IA. AP. April 4, 1997 – via NewsBank.
- ^ abcForm 10-K: Annual Report (Report). Sodak Gaming. March 28, 1997. p. 20 – via EDGAR.
- ^Form 10-K: Annual Report (Report). Sodak Gaming. March 28, 1997. p. 3 – via EDGAR.
- ^'Sodak Gaming announces corporate restructuring' (Press release). Sodak Gaming. June 18, 1998. ProQuest448798942. – via ProQuest (subscription required)
- ^'Home Depot builds outside N. America'. Sun Sentinel. Fort Lauderdale, FL. July 6, 1998 – via NewsBank.
- ^Form 10-K: Annual Report (Report). Sodak Gaming. March 30, 1999. p. 20 – via EDGAR.
- ^Berns, Dave (March 12, 1999). 'IGT to acquire Sodak Gaming for $230 million'. Las Vegas Review-Journal – via NewsBank.
- ^Thompson, Gary (March 11, 1999). 'IGT buying slot distributor in week's second gaming merger'. Las Vegas Sun. Retrieved 2018-01-12.
- ^Berg, Renee (August 6, 1999). 'Casino sells for $42 million'. The Telegraph-Herald. Dubuque, IA. Retrieved 2012-06-24.
- ^'Las Vegas company buys Miss Marquette'. The Telegraph-Herald. Dubuque, IA. November 6, 1999. Retrieved 2012-06-23.
- ^'Hollywood Casino announces purchase agreement'. Dallas Business Journal. April 6, 1999. Retrieved 2018-01-21.
- ^Form 10-Q: Quarterly Report (Report). Sodak Gaming. May 4, 1999. p. 8 – via EDGAR.
- ^'Slot maker finalizes Sodak Gaming purchase'. Las Vegas Sun. September 2, 1999. Retrieved 2012-08-03.
- ^ abDaly, Dan (March 9, 2005). 'Sodak's role unclear in restructure'. The Rapid City Journal. Rapid City, SD – via NewsBank.
Pinky and the Miss Marquette Riverboat Casino – Marquette, Iowa
Pinky is the 14 ft. tall, bleary-eyed elephant at the entrance of the casino.
Welcoming visitors to the Mississippi’s first state-licensed gambling facility is the job that Pinky now holds. This riverboat casino actually takes cruises along the Mississippi everyday during the warm weather seasons.
Pinky is a great place to have your picture taken, just how many people can say they have actually been with a pink elephant?
Miss Marquette Riverboat Casino
Location: Hwy 76 in downtown Marquette.
Miss Marquette Riverboat Casino
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