TBK Bank Sports and Entertainment Complex ownership expands
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New owners are on board at the TBK Bank Sports and Entertainment Complex.
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The Bettendorf venue is under the ownership of The BettPlex LLC. Previously, Doug Kratz had sole ownership. Thursday, it was announced four new investors were brought on and collectively own 50% of the ownership. Kratz is retaining the other 50% for himself.
This group, led by Ryan Hintze, will share ownership that encompasses both the Iron Tee golf venue, currently under construction in The Plex development, and the proposed adjacent indoor multi-sports facility, scheduled for completion in the fall of 2024, according to a news release.
Kratz said in a release he is “thrilled and extremely fortunate to bring on quality investors who are not only friends but also successful and well-respected area businessmen who will assure the future of not only TBK Sports and Entertainment Complex but also Iron Tee and the proposed indoor multisport facility. I know these individuals quite well and they, like myself, understand the importance of long-term sustainability of the youth sports and entertainment venues to the local area.”
“This transaction not only allows my family to retain ownership in both entities for years to come but also allows me to transition executive responsibilities of the Sports and Entertainment Complex to Ryan over the next couple of years. The future is bright.”
Photos: Iron Tee Golf ‘breaks ground’ in Bettendorf