Cedar Rapids Casino Secures Key Ruling, $275 Million Project Details Opening
An Iowa judge has ruled that a 2021 gaming referendum in Linn County was valid. This ruling is crucial for the construction of Cedar Crossing Casino & Entertainment Center, which is set to open by the end of 2026.
The casino, valued at $275 million, will feature 700 slots, 22 table games, and a sportsbook. It will also include three restaurants, a 1,500-seat concert venue, an arts and cultural center, and a separate STEM lab as its non-gaming amenities.
Key to the casino’s success is the fact that it has been granted a gaming license by the Iowa Racing & Gaming Commission (IRGC). This license was awarded after years of lobbying by local officials and businesspeople in Cedar Rapids.
The IRGC had previously denied two casino applications for Cedar Rapids, citing concerns about market saturation. However, with new members on the commission, the tide finally turned in favor of the project. In February, the IRGC granted Cedar Crossing Casino & Entertainment Center a gaming license, clearing the way for construction to begin.
The consortium behind the project, which includes Los Angeles-based gaming operator Peninsula Pacific Entertainment and 80 local businesspeople operating as the Cedar Rapids Development Group, has pledged to direct 8% of its annual gross gaming revenue to its charitable arm, the Linn County Gaming Association. This is significantly higher than the state-mandated 3% threshold.
Cedar Crossing is expected to have a significant impact on the local economy. According to Marquette Advisors and The Innovation Group, two independent gaming research firms contracted by the IRGC, a casino in Cedar Rapids will poach play and business from Riverside Casino & Golf Resort. Marquette forecasts that Cedar Crossing will lead to a loss of $34 million in Riverside gaming revenue for the fiscal year 2029.
Cedar Crossing Casino Details
The casino will feature the following amenities:
- 700 slots
- 22 table games
- sportsbook
- three restaurants
- 1,500-seat concert venue
- arts and cultural center
- STEM lab
The casino is also set to feature a sports bar and restaurant, with Iowa native Zach Johnson lending his name to the venture.
Conclusion
In conclusion, the recent court ruling that validated the 2021 gaming referendum in Linn County has cleared the way for Cedar Crossing Casino & Entertainment Center to move forward. With its $275 million valuation and range of amenities, the casino is set to have a significant impact on the local economy.