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The fate of a proposed $250 million casino in Cedar Rapids, Iowa, hinges on an upcoming decision by the Iowa Racing and Gaming Commission (IRGC).
On Feb. 6, 2025, the commission will convene to approve or reject the casino proposal for the city. Hence, this decision comes after a virtual commission meeting on July 5 to establish a timeline for the vote.
According to a news article by CBS 2 Iowa, Linn County Gaming Association President Anne Parmley said:
“We think this is a great opportunity to expand gaming in Iowa, and there’s no better place than to do it than Linn County.
We’ve really grown as a community and expanded our offerings, and this would be just such a significant and exciting thing to add.”
Key takeaways
- The IRGC will decide the fate of a proposed $250 million casino in Cedar Rapids on Feb. 6, 2025.
- This decision comes after a timeline was established for the application process.
- While the moratorium on new gaming licenses ended, the project faces a potential new hurdle that could delay it again.
- There are no legal online casinos in Iowa apart from social and sweepstakes casino sites.
IRGC’s timeline for Cedar Rapids casino application process
The breakdown of the timeline for the Cedar Rapids casino application process is as follows:
- Aug. 15: Proposals for the market study on the casino’s impact are due.
- Aug. 29: Presentations from vendors vying to conduct the market study will be held, and a vendor will be chosen.
- Sept. 16: The deadline for submitting applications for the new casino license.
- Oct. 3: Presentations of the new casino applications will be given to the commission.
- Nov. 20: The commission will visit the proposed casino site and hold a public forum.
- Nov. 21 (tentative): Background checks by the Iowa Department of Criminal Investigation (DCI) may be completed.
- Dec. 30: The market study results are due.
- Jan. 23, 2025: If DCI background checks are not finished, they will be complete by this date. Additionally, a public presentation of the market study takes place.
- Feb. 6, 2025: The IRGC will vote on the casino applications. This will determine whether the Cedar Rapids casino project gets approval.
Despite Cedar Rapids officially designating land for a casino in July 2023, the project’s future remains uncertain.
The effort, led by the Linn County Gaming Association and developer Peninsula Pacific Entertainment, now depends on approval from relevant authorities. Peninsula Pacific Entertainment Vice President of Development Kim Pang said:
“We’ve waited 12 years for this opportunity, and we see some light at the end of the tunnel.
Our focus is putting together the best product for the commission to consider. At the end of the day, they make the decision, and that’s where our energy is going to be put to add.”
Moratorium lifted, but Cedar Rapids casino project faces new legislative hurdles
The moratorium on issuing new gaming licenses in Iowa, which had been in place for two years, ended on June 30. Hence, Peninsula Pacific Entertainment and the Linn County Gaming Association decided to reapply. They also noted that their applications remain largely unchanged.
Amid this, a potential complication is spiraling for the Cedar Rapids casino project. According to an article by the Iowa Capital Dispatch, state legislators are considering bringing back a moratorium on new casino licenses during the 2025 legislative session.
Lawmakers, worried about existing casinos losing profits to new competition, plan to introduce a new moratorium bill. If this law passes before the Cedar Rapids casino application is approved, the project could be delayed again.
State Rep. Bobby Kaufmann, R-Wilton, chairman of the House State Government Committee, said:
“I did not offer the amendment last year to have it pass the House just to abandon my efforts, so I certainly plan to reintroduce it this year.”
On the other hand, Pang is urging lawmakers to consider the revenue from which the state could benefit if the Cedar Rapids casino comes to fruition and said:
“The potential benefits extend far beyond the gaming, live entertainment, and amenities we will be able to provide. Through annual nonprofit contributions of up to $5 [million] to $7 million, Cedar Crossing will help make Linn County a more vibrant place to live as well as draw tourism to the region.”
