Announced by Penn Entertainment last week, the new facility will be renamed Hollywood Casino Council Bluffs. The relocation project is expected to cost between $180 million and $200 million.
The Iowa Racing and Gaming Commission has already given its approval to the initiative. This comes following a 15-year extension of Ameristar’s partnership with the nonprofit Qualified Sponsoring Organization (QSO) Iowa West Racing Association. All commercial operators in Iowa must have an operating agreement with a QSO licensed to offer gaming.
Hollywood Council Bluffs will cover a total area of 125,000 square feet, with some 58,000 square feet being dedicated to gaming. It will complement the existing ESPN Bet sportsbook, a 160-room hotel and dining options.
Construction is expected to take approximately 18-24 months following the design and permitting approval process. Penn is entitled to obtain financing for the project from Gaming and Leisure Properties, Inc.
The existing riverboat will be vacated upon the opening of the new property.
Council Bluffs to Improve ‘Competitive Positioning’ for Penn
Todd George, executive vice president of operations for Penn, said the new venue will offer an enhanced experience for visitors.
“This project will enhance the quality and efficiency of our Council Bluffs location,” he said. “It will significantly improve the property’s competitive positioning in the greater Omaha market.
“Penn’s diversified portfolio of casino properties is core to our omni-channel approach to entertainment, which combines our best-in-class retail operations, and a database of more than 32 million Penn Play members with our robust interactive and media footprint.”
Iowa West Racing Association President and CEO said Brenda Mainwaring also talked up the “exciting” new project. Mainwaring said: “We are thrilled with the exciting development plans for the new Hollywood Casino Council Bluffs.
“For nearly 30 years, the Ameristar riverboat has been providing not only dining and entertainment, but thousands of jobs and millions of dollars in support of our community. Penn’s commitment to reinvesting in Council Bluffs is laudable and we are grateful for our ongoing partnership.”
