Black Hawk County Gaming Association officials in Iowa are applauding the Iowa Racing and Gaming Commission’s recent 3-2 vote denying three license applications for a casino in Cedar Rapids, the state’s second-largest city. BHCGA President and former Waterloo Mayor Tim Hurley said, “The right decision was made.” He noted for the 10-year-old Isle Casino Hotel Waterloo, “It means, initially, stability. And in terms of the near future, the corporate owners of the Isle are more likely to go ahead with very extensive capital improvements on the facilities. It means no loss of jobs. And it means that the gaming association can continue doing its good work that’s been seen in the $40 million we’ve awarded in the last 10 years. We anticipate staying pretty closely on that pace.”
The BHCGA, as the Isle Casino Hotel’s nonprofit license-holder, distributes 5.75 percent of the casino’s adjusted gross revenue for community projects in Black Hawk and surrounding counties. “I know they’ve looked at improvements for some time out there. A Cedar Rapids casino would have been a dampener on those plans,” Hurley said.
Hurley and BHCGA Executive Director Beth Knipp said the eastern Iowa gaming market is saturated. They noted a Cedar Rapids casino, located 60 miles away, would have caused the organization to lose 17-20 percent, or $1 million, in annual potential grant revenue. Hurley and Knipp added market numbers had not changed from 2014 when the IRGC voted against Cedar Rapids Development Group’s casino proposal.
In its recent vote, the IRGC again stated a Cedar Rapids casino would hurt profits at existing casinos in the state. Commissioners considered three proposals: the $196 Cedar Crossing and a smaller $106 million venue downtown, both presented by Cedar Rapids Development Group; and Wild Rose Entertainment’s $42 million boutique casino downtown.
