The Iowa Racing and Gaming Commission will vote November 16 in Dubuque on whether or not to approve a gaming license for a casino in downtown Cedar Rapids—and which of three proposals it will select, if any. Cedar Rapids Development Group submitted two plans. One is nearly identical to a 6 million development it proposed and the IRGC rejected in 2014. Their second proposal is for the 6 million Cedar Crossing Central, in the heart of the downtown area. Wild Rose Entertainment proposed a smaller, million “boutique” casino.
IRGC Administrator Brian Ohorilko said the five commissioners are “going back through those applications, looking through their notes and trying to make the best decision that they can make.” Commissioner Jeff Lamberti stated, “I’ve talked to a couple of the commissioners. What I will say is, people are struggling with making a decision and probably won’t decide until the very end.”
Lamberti said a major concern is cannibalization—which also was a main issue in 2014 when market studies showed Cedar Rapids Development Group’s proposal would take revenue from other area casinos, including nearly 20 percent from Riverside Casino & Golf Resort. On the other hand, one of the two market studies indicated a Cedar Rapids casino would generate $23-$47 million annually.
Cedar Rapids Development Group issued a statement noting, “We are hopeful the commissioners will carefully review all of the data which shows a Cedar Crossing casino will generate significant new revenue for the state and accelerate economic development in Cedar Rapids.” Wild Rose Entertainment also issued a statement, declaring its boutique facility would support local restaurants and entertainment and not take business from like a large facility with numerous amenities.
