Three proposals for a casino license in Iowa
The Cedar Rapids City Council will debate the potential approval of a casino license.
US.- Iowa State would possibly host a new casino in Cedar Rapids, the largest city of Linn County. Local authorities will debate this week the potential project to relive the failed proposal of 2014, when the government decided that a casino in Cedar Rapids would affect the businesses in neighboring gaming venues such as the Riverside Casino and Golf Resort.
The Iowa Racing and Gaming Commission is receiving today the projects and the final decision will be issued by fall. The bidding process would permit a new casino license to develop the industry in Linn County.
As local press revealed, one of the project was made by Wild Rose Entertainment and consists of a casino with 600 to 700 slot machines and 15 to 20 table game that would employ near 225 people and would generate US$42 million in annual revenue. The company’s investment would be of US$40 million.
The second proposal, which made its first attempt and failed in 2014, is the Cedar Crossing on the River. The company plans to invest US$165 million on the construction of a complex with 840 slot machines and 22 table games, multiple restaurants, a bar, a retail area and entertainment space. The casino would generate 355 job positions, as well as 1,283 short-term construction jobs. The projected annual revenue is US$83.8 million.
The last casino project is the Cedar Crossing Central, which would require the investment of US$105 million. The gaming venue will feature 550 slot machines and 15 table games, dining and beverage service. As the bidder proposes, the Cedar Crossing Central casino would be constructed in the Five Seasons Parking Ramp and would include a new parking, gaming floor and a landing hovering above the railroad tracks to the DoubleTree and U.S. Cellular Center. The casino would grant 231 permanent jobs and 601 short-term jobs during construction, as well as an annual revenue of US$63 million.
