Monday, February 13 was the Iowa Racing and Gaming Commission’s application deadline for a gaming license in Linn County, Iowa. Three casino proposals were turned in: the 5 million Cedar Crossing on the River and the 5 million Cedar Crossing Central, both submitted by the Cedar Rapids Development Group and Peninsula Pacific; and the million Wild Rose Cedar Rapids “boutique” casino, submitted by Wild Rose Entertainment.
In 2014, the commission rejected by a 4-1 vote the proposed Cedar Crossing on the River, based on economic studies that said it would cannibalize existing casinos, especially Riverside Casino & Golf Resort. But Cedar Rapids Development Group. But Cedar Rapids Development Group and Peninsula are resubmitting the proposal, which they said would create 355 permanent jobs.
“It was a larger facility that we learned in the spring of 2014 was everything we wanted it to be, but one thing it was also was probably too big,” said Brent Stevens, of Peninsula Pacific. As a result, the partners also are submitting an application for Cedar Crossing Central, which would be about two-thirds the size of Cedar Crossing on the River.
Steve Gray, head of the Cedar Rapids Development Group Chief Executive Officer Steve Gray acknowledged both proposals faced challenges. “We are trying to thread the needle of, one, generating new revenue for the state, and two, having less impact on other casinos,” Gray said. However, he added, “We are back and, quite frankly, we aren’t going away until we are told ‘yes.’”
The city of Cedar Rapids has a previous memorandum of understanding in support of Cedar Rapids Development Group, which is expected to be extended to 2029. As a result, if the current effort fails the city would continue to support the group for several more years.
Wild Rose Entertainment and development partners Steve Emerson and Hunter Parks presented their plan in September.
Cedar Rapids Mayor Ron Corbett said the IRGC needs to consider the future of the state’s gaming industry and look beyond cannibalization.
“Industries have had to reinvent themselves. Think about the old riverboats and Mark Twain-style casinos, and what there is now. The commission has to look forward to how the industry can evolve and not just protect what they have in place.”
The IRGC is not expected to make a decision regarding the gaming license before November.
