Iowa regulators greenlight $275 million casino project in Cedar Rapids

The Iowa Racing and Gaming Commission (IRGC) has approved a $275 million casino project in Cedar Rapids, ending years of delays and unsuccessful applications. The decision, which came in a 4-1 vote, grants a gaming license to Cedar Crossing Casino & Entertainment Center, allowing the development of a new gambling venue on 25 acres of city-owned land along the Cedar River.

The IRGC's approval follows more than a decade of efforts by the Cedar Rapids Development Group and its gaming partner, Peninsula Pacific Entertainment (P2E), to establish a casino in Iowa’s second-largest city. The decision comes just days after a proposal to impose a five-year moratorium on new casino licenses failed in the Iowa Senate.

“We are so thankful to the commission for giving us a fair shot at sharing our vision and for making Cedar Crossing a reality,” said Jonathan Swain, a board member at P2E. He stated that the approval marks a major milestone in what has been a long journey to bring a casino to Linn County.

Despite the approval, concerns remain about the impact of a new casino on existing gaming establishments, particularly the Riverside Casino & Golf Resort, which is expected to experience the most revenue loss.

Elite Casino Resorts CEO Dan Kehl, whose company owns Riverside Casino, expressed disappointment over the IRGC's decision. “We appreciate the time and effort the commission and staff put into this, but we do have questions and concerns as we still believe the referendum requirement has not been met and are reviewing our next steps,” Kehl stated.

Riverside’s legal team has previously argued that Linn County’s 2021 casino referendum was invalid, claiming that the ballot asked voters to "continue" allowing gambling, despite no casino operating in the county at the time. The IRGC recently declined to issue a declaratory order on the matter, leaving the dispute unresolved.

With the license now in hand, Cedar Crossing Casino & Entertainment Center is set to break ground this Friday. The development will feature a gaming floor with 700 slot machines, 22 live dealer table games, and a sportsbook. The project also includes three restaurants, a 1,500-seat entertainment venue, an arts and cultural center, and a STEM lab designed to promote educational initiatives.

Cedar Rapids Mayor Tiffany O’Donnell, a strong advocate for the casino project, described the approval as a major economic opportunity for the city. “This marks an exciting new chapter for the thousands of people who will benefit from new jobs, economic opportunities, and entertainment possibilities,” she said.

The casino is expected to play a key role in the redevelopment of the northwest side of Cedar Rapids, an area that has remained largely vacant since the devastating 2008 floods. Construction is expected to take between 18 to 22 months, with an anticipated opening in late 2025 or early 2026.