A timeline has been established for selecting a developer for a new casino in downtown Cedar Rapids, Iowa. Iowa Racing and Gaming Commission Administrator Brian Ohorilko, said on July 13 the three applicants will make presentations to IRCG members in Altoona. Commissioners will make site visits and hear public comment on September 26 in Cedar Rapids, and on October 12, at its meeting in Emmetsburg, commissioners will receive market study results. Ohorilko said commissioners plan to vote on the casino license applications at their November 16 meeting in Dubuque.
Also as part of the process, the state Division of Criminal Investigation will conduct background checks on the applicants.
Wild Rose Cedar Rapids has submitted a $40 million casino proposal. Cedar Rapids Development Group-Peninsula Pacific partnership submitted two proposals: the $105 million Cedar Crossing Central and the $165 million Cedar Crossing on the River.
The commission selected White Sand Gaming, of Atlantic City, New Jersey, and Marquette Advisors, of Minneapolis, from six firms that applied to conduct market studies. Ohorilko explained, “A statewide market assessment would determine if there’s any underserved markets in the state of Iowa. And in addition to that, they’re going to do a targeted analysis looking specifically at the applications that were submitted at Linn County.”
In 2014, Marquette conducted market studies for casino proposals in Cedar Rapids and Jefferson. The IRGC voted 4-1 to deny the Cedar Rapids license due to concerns about the impact on existing casinos, particularly Riverside Casino & Golf Resort. However, the commission approved a license for Jefferson, where the Wild Rose Casino opened in August 2015.
Commissioner Jeff Lamberti said, “Striking a balance between people who’ve been familiar with what we’ve done the past few years and also a new perspective is probably healthy.”
Wild Rose spokesperson Jamie Buelt added, “Since these studies, we’ve had experience. Instead of just predicting, we can look at the experience. We are optimistic they will look at that.”
Cedar Rapids Development Group Chairman Steve Gray noted, “We’re eager to make our case with the commission that our proposal is the right fit for the economic development of Cedar Rapids.”
