Iowa: Cedar Rapids Casino breaks ground on $275M project after state approval, to open on New Year’s Eve 2026

Construction on Cedar Rapids’ long-anticipated casino project officially commenced following regulatory approval, with developers celebrating the milestone at a groundbreaking ceremony. The $275 million Cedar Crossing Casino and Entertainment Center is scheduled to open on New Year’s Eve 2026, offering gaming, live entertainment, and community-focused initiatives.  

Peninsula Pacific Entertainment (P2E) and the Linn County Gaming Association (LCGA), the entities behind the project, gathered with local officials and supporters on Friday at the casino’s future location to mark the occasion. The event came just a day after the Iowa Racing and Gaming Commission (IRGC) granted the long-debated gaming license in a 4-1 vote.  

P2E Chairman Brent Stevens addressed attendees, noting the company’s plans for Iowa’s gaming industry and its past success in operating casinos across the state. “We’ve been here in the great state of Iowa for over 25 years, building three world-class facilities in Dubuque, Northwood, and Sioux City, and here we are in Cedar Rapids,” Stevens said. 

“This is going to be the best one yet. More amenities, more places to become a part of this community, more places to be entertained. And we promise to make you very, very proud with this development.”  

The casino will feature 700 slot machines, 22 table games, a 1,500-seat entertainment venue, and a STEM lab for children. In a large community investment, 8% of the casino’s net adjusted gross revenue, more than twice the state minimum, will be allocated to nonprofit organizations in the region.  

Cedar Rapids Mayor Tiffany O’Donnell, who had long advocated for a casino in the city, called the approval a long-overdue victory. “Iowa’s second-largest city has finally been given the opportunity that our residents, business leaders, nonprofits, and surrounding communities have sought for years,” O’Donnell said. “Cedar Crossing will create new revenue for the state and bring new visitors every year – a solid win for every Iowan.”  

The IRGC’s decision marked the third time the commission considered a Cedar Rapids casino proposal. Previous attempts were rejected over concerns that a new facility could negatively impact existing casinos in Iowa. 

Even in this round, the issue of market saturation was a central topic, with reports from industry analysts estimating Cedar Crossing could generate $60 million in additional gaming revenue while also diverting funds from other casinos. Riverside Casino & Golf Resort, located about 40 miles away, had been a vocal opponent, arguing that the new venue would cannibalize its business.  

Commissioner Alan Ostergren cast the sole dissenting vote, citing legal concerns from past litigation surrounding the project. However, the support for the casino ultimately secured its approval, paving the way for construction to begin.  

The project faced an additional challenge in the form of House File 144, a proposed five-year moratorium on new casino licenses introduced by Representative Bobby Kauffman. The legislation, which aimed to block new gaming developments retroactively, had gained traction in the Iowa House. However, its momentum unexpectedly stalled on February 3, when Senate State Government Committee Chairman Ken Rozenboom withdrew the bill due to a lack of support.  

“In the interest of moving this session forward to other issues of critical importance to Iowans, I have no plans to reconsider the legislation for the remainder of this session,” Rozenboom stated.  

The bill’s demise cleared the way for the Cedar Crossing Casino license approval, marking the end of a long-fought battle for developers and city leaders.  

With construction set to begin on Monday, developers are focused on meeting the 22-month timeline leading up to the planned opening in December 2026. LCGA President Anne Parmley emphasized the broader impact the casino will have on the community, particularly through its nonprofit contributions. 

“We’re going to make life-changing impacts to our nonprofits in this community,” Parmley said. “The more revenue we generate, the more good we can do.”  

The casino will be built on the former site of Cooper’s Mill, an area significantly affected by the 2008 flood. Mayor O’Donnell noted that the project is not only about economic growth but also about resilience and revitalization. “This was about Cedar Rapids, and it was by the people of Cedar Rapids that made this happen,” she said.