Key points:
- If passed, this would stop the casino project in Cedar Rapids
- Only 19 licenses could be issued under this legislation
A bill is on the table in Iowa that would regulate statewide licensing of gambling games, according to a local report from Iowa News Now.
The potential legislation was brought to the Iowa General Assembly by the Committee on Ways and Means.
Part of Senate File 76 includes a moratorium on issuing new licenses until 2030, the local report said. The bill would also limit the number of gambling licenses that the state issues to 19.
However, the previous moratorium expired in July.
Passing this bill would halt the projects in Cedar Rapids to develop a new casino.
The estimated $275m casino development project was pitched by the Linn County Gaming Association and its partner Peninsula Pacific Entertainment.
The completed destination would be home to a casino with 700 slot machines and 22 table games. The site would also feature a 1,500-seat entertainment venue, several restaurants, bars and an arts and cultural center.
Cedar Rapids has attempted to bring another casino to the city multiple times throughout the years. However, the city has faced opposition.
Linn County voted to approve casino expansion more than 10 years ago, setting up Cedar Rapids for the possibility of a third casino.
Good to know: Until recently, the state had a two-year moratorium in place on new gaming licenses
After legislation was passed in 2013, Cedar Rapids applied for a casino license. Its application was denied by the state’s Racing and Gaming Commission.
But, that did not stop the city from filing again in 2017. However, the state regulator once again denied Cedar Rapid’s application.
Two years ago, Cedar Rapids tried again, this time pitching a proposal for a $250m gaming facility that would sit across the river.
Senator Jeff Reichman introduced the bill earlier this week. If passed, this would retroactively take effect January 1, 2025.
