What is it they say about insanity?:
Cedar Rapids casino backers plan to apply for a gaming license after a two-year state pause on new licenses sunsets Sunday, the city’s preferred casino operator announced Wednesday.
Peninsula Pacific Entertainment, a national gaming operator and developer, and the nonprofit Linn County Gaming Association said they plan to jointly apply for a gaming license with the Iowa Racing and Gaming Commission, setting in motion the process for Iowa’s second-largest city to potentially get a casino.
Iowa lawmakers in 2022 passed a two-year moratorium on new licenses, but failed to extend the pause when the legislative session adjourned in April. The moratorium put the brakes on Cedar Rapids’ third attempt — until now — after the panel rejected licenses in 2014 and 2017. Regulators said in part that a Cedar Rapids site would threaten operations of other casinos in the region, including the Riverside Casino & Golf Resort.
The state panel overseeing Iowa’s 19 licensed casinos next meets July 8 at Prairie Meadows Casino and Hotel in Altoona. There, the five-member regulatory commission is expected to share details about the process and a timeline for when gaming license applications will be considered. All five members of the panel have been appointed since the Cedar Rapids application last went before it for a vote.
“The time is now for Cedar Crossing,” Jonathan Swain, a Peninsula Pacific Entertainment board member, said in a statement. “Linn County residents have overwhelmingly passed two gaming referendums and they have been patient. With the moratorium expiring soon, we look forward to bringing an unprecedented casino gaming and entertainment destination to Cedar Rapids.”
Hoping the moratorium would expire as planned, the Cedar Rapids City Council last year signed off on a deal to earmark land in the northwest quadrant near downtown for a potential casino, should state regulators eventually award a license. The agreement lasts through Dec. 31, 2025, but could be extended if the commission is actively considering issuing a Linn County license.
The option-to-purchase agreement with the Cedar Rapids Development Group — an entity of mostly local investors — set aside city-owned property between F and I Avenue NW and First and Fifth Streets NW to be purchased and redeveloped into the Cedar Crossing Casino. This was the site of Cooper’s Mill, home to a motel and restaurant, before it was destroyed in the 2008 flood and later demolished.
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Peninsula Pacific Entertainment previously shared plans to build a $250 million, 160,000 square-foot gaming and entertainment complex at the site. The developer paid the city $165,000 for the option to purchase the property. The plans call for flood protection infrastructure along the west side of the Cedar River.
“The development team continues to demonstrate their dedication to Cedar Rapids with a vision for a casino that highlights our community’s potential as a modern entertainment and gaming destination,” Cedar Rapids Mayor Tiffany O’Donnell said in a statement. “I am confident their next proposal will bring significant benefits to Cedar Rapids and Linn County as a whole, offering unmatched opportunities for our residents and visitors while providing vital support for community organizations to advance and thrive.”
The Cedar Rapids Development Group’s deal with the city doesn’t preclude others from applying for a gaming license, but does give the group a boost in the process as local support factors into the commission’s decision.
“Our commitment to building a world-class destination has never wavered,” Swain said. “We are in the final stages of finalizing our vision for Cedar Crossing and look forward to setting a new standard for gaming and entertainment in Iowa.”
If granted a license, gaming interests say the casino would support local nonprofits by contributing 8 percent of its annual gaming revenue — the highest in the state — to the Linn County Gaming Association to divvy up. Iowa requires that licensed casinos donate at least 3 percent of revenue to nonprofits each year.
“People like to count us out, though we are part of a resilient community. Linn County has come back stronger than before — and we’re going to do it again with Cedar Crossing,” Linn County Gaming Association President Anne Parmley said in a statement. “A local casino will help our communities be even more vibrant, as we estimate Cedar Crossing will be able to commit $5 million to $7 million to nonprofits annually. This will be a major boost to local organizations, and just one of the many ways this project will make Linn County an even better place to live, work and visit.”
After Linn County voters in 2021 passed a public referendum authorizing gaming in the county on a second-consecutive vote, that allowed casino backers to seek a license in perpetuity. The measure won’t have to come to voters again.
In addition to county residents, several local government officials and trade unions also have long supported the project.
“Linn County residents support casino gambling in Linn County,” Linn County Board of Supervisors Chair Kirsten Running-Marquardt said in a statement. “This investment in our community would increase opportunity for our local economy in several ways, including job creation, tourism and providing unmatched entertainment options. Like other Iowa counties, we are looking for a fair chance for the people of Linn County to receive these benefits for our community.”
Cedar Rapids casino backers plan to apply for a gaming license after a two-year state pause on new licenses sunsets Sunday, the city’s preferred casino operator announced Wednesday.
Peninsula Pacific Entertainment, a national gaming operator and developer, and the nonprofit Linn County Gaming Association said they plan to jointly apply for a gaming license with the Iowa Racing and Gaming Commission, setting in motion the process for Iowa’s second-largest city to potentially get a casino.
Iowa lawmakers in 2022 passed a two-year moratorium on new licenses, but failed to extend the pause when the legislative session adjourned in April. The moratorium put the brakes on Cedar Rapids’ third attempt — until now — after the panel rejected licenses in 2014 and 2017. Regulators said in part that a Cedar Rapids site would threaten operations of other casinos in the region, including the Riverside Casino & Golf Resort.
The state panel overseeing Iowa’s 19 licensed casinos next meets July 8 at Prairie Meadows Casino and Hotel in Altoona. There, the five-member regulatory commission is expected to share details about the process and a timeline for when gaming license applications will be considered. All five members of the panel have been appointed since the Cedar Rapids application last went before it for a vote.
“The time is now for Cedar Crossing,” Jonathan Swain, a Peninsula Pacific Entertainment board member, said in a statement. “Linn County residents have overwhelmingly passed two gaming referendums and they have been patient. With the moratorium expiring soon, we look forward to bringing an unprecedented casino gaming and entertainment destination to Cedar Rapids.”
Hoping the moratorium would expire as planned, the Cedar Rapids City Council last year signed off on a deal to earmark land in the northwest quadrant near downtown for a potential casino, should state regulators eventually award a license. The agreement lasts through Dec. 31, 2025, but could be extended if the commission is actively considering issuing a Linn County license.
The option-to-purchase agreement with the Cedar Rapids Development Group — an entity of mostly local investors — set aside city-owned property between F and I Avenue NW and First and Fifth Streets NW to be purchased and redeveloped into the Cedar Crossing Casino. This was the site of Cooper’s Mill, home to a motel and restaurant, before it was destroyed in the 2008 flood and later demolished.
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Peninsula Pacific Entertainment previously shared plans to build a $250 million, 160,000 square-foot gaming and entertainment complex at the site. The developer paid the city $165,000 for the option to purchase the property. The plans call for flood protection infrastructure along the west side of the Cedar River.
“The development team continues to demonstrate their dedication to Cedar Rapids with a vision for a casino that highlights our community’s potential as a modern entertainment and gaming destination,” Cedar Rapids Mayor Tiffany O’Donnell said in a statement. “I am confident their next proposal will bring significant benefits to Cedar Rapids and Linn County as a whole, offering unmatched opportunities for our residents and visitors while providing vital support for community organizations to advance and thrive.”
The Cedar Rapids Development Group’s deal with the city doesn’t preclude others from applying for a gaming license, but does give the group a boost in the process as local support factors into the commission’s decision.
“Our commitment to building a world-class destination has never wavered,” Swain said. “We are in the final stages of finalizing our vision for Cedar Crossing and look forward to setting a new standard for gaming and entertainment in Iowa.”
If granted a license, gaming interests say the casino would support local nonprofits by contributing 8 percent of its annual gaming revenue — the highest in the state — to the Linn County Gaming Association to divvy up. Iowa requires that licensed casinos donate at least 3 percent of revenue to nonprofits each year.
“People like to count us out, though we are part of a resilient community. Linn County has come back stronger than before — and we’re going to do it again with Cedar Crossing,” Linn County Gaming Association President Anne Parmley said in a statement. “A local casino will help our communities be even more vibrant, as we estimate Cedar Crossing will be able to commit $5 million to $7 million to nonprofits annually. This will be a major boost to local organizations, and just one of the many ways this project will make Linn County an even better place to live, work and visit.”
After Linn County voters in 2021 passed a public referendum authorizing gaming in the county on a second-consecutive vote, that allowed casino backers to seek a license in perpetuity. The measure won’t have to come to voters again.
In addition to county residents, several local government officials and trade unions also have long supported the project.
“Linn County residents support casino gambling in Linn County,” Linn County Board of Supervisors Chair Kirsten Running-Marquardt said in a statement. “This investment in our community would increase opportunity for our local economy in several ways, including job creation, tourism and providing unmatched entertainment options. Like other Iowa counties, we are looking for a fair chance for the people of Linn County to receive these benefits for our community.”
