Penn Entertainment to launch new Hollywood Casino property in Iowa
The upcoming land-based property will replace riverboat gaming operations from the Ameristar Casino Hotel in Council Bluffs, Iowa.
Key Points
- The proposal was approved by the Iowa Racing and Gaming Commission on the morning of April 24
- Penn Entertainment partnered with Gaming and Leisure Properties to facilitate and fund up to $150m of an expected $180–$200m project budget
Penn Entertainment has released plans to build a new Hollywood Casino property in Council Bluffs, Iowa after securing a partnership with Gaming and Leisure Properties (GLPI) to fund up to $150m of an expected $180-200m project budget.
The launch will relocate Penn Entertainment’s Ameristar Casino Hotel location to a new land-based property, with the proposal having been approved by the Iowa Racing and Gaming Commission on the morning of April 24.
The approval came in conjunction with a 15-year extension of Ameristar’s partnership with the nonprofit Qualified Sponsoring Organization Iowa West Racing Association, which is a requirement for all commercial operations conducting business within the state.
“We are pleased to add another landside relocation to our pipeline of development projects. This project will enhance the quality and efficiency of our Council Bluffs location and significantly improve the property’s competitive positioning in the greater Omaha market,” Penn Entertainment EVP of Operations Todd George said.
“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. We thank the Iowa Racing and Gaming Commission for their approval today and are grateful for the continued collaboration with our partners at the Iowa West Racing Association.”
Good to know: Penn Interactive has recruited Billy Turchin to serve as its Chief Product Officer, where he will lead product strategy for digital experiences across the company’s online gaming brands, as well as oversee digital sports wagering and media
Under the proposed plan, the new Hollywood Council Bluffs is expected to include roughly 125,000 sq ft of new development with approximately 58,000 sq ft of gaming space and more than 1,000 positions on a single level. The new facility will complement the existing ESPN Bet sportsbook, 160-room hotel and dining options in the landside portion of the current infrastructure.
“We are thrilled with the exciting development plans for the new Hollywood Casino Council Bluffs,” Iowa West Racing Association President & CEO Brenda Mainwaring said.
“For nearly thirty 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.”
Construction of the new facility is expected to take approximately 18-24 months following the design and permitting approval process.
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