We spoke exclusively to the owner of Riverside Park Marina, Rita Stanley, who says since the riverboat became more exposed, people have been picking pieces off of it. "A lot of people were stealing parts off of it. So, it sunk. And then my husband had to go over there and get it raised. So, we brought it over here. And we've been watching it for ten years or so, right there in that spot," says Stanley. , The Diamond Lady was the first legal gambling vessel launched into Iowa’s portion of the Mississippi River since the 19th century. It now sits stuck in the mud where it sank in a Memphis lake, Extremely low water levels in the backwaters of the Mississippi River in Memphis, Tennessee, have fully exposed the historic Diamond Lady riverboat casino, which has been parked at the.