Key points:
- A bill passed through the House Ways & Means Committee on January 27 would retroactively enact a five-year postponement on issuing new licenses
- Iowa Rep. Bobby Kaufmann stated that he believes potential job losses and other negative effects could stem if a casino was built in Cedar Rapids
Iowa lawmakers are attempting to pass legislation that would create a five-year postponement period on issuing new casino licenses in an attempt to block the progression of a $275m casino being built in Cedar Rapids.
The move comes prior to a February 6 meeting of the Iowa Racing and Gaming Commission, which is set to decide whether to grant a license that would result in a Linn County casino. The bill was passed through the House Ways & Means Committee on January 27 before being sent to the full House for debate with a vote set for January 30.
Iowa Rep. Bobby Kaufmann, who serves as Chairman of the House Ways & Means Committee, said he wishes to have the legislation passed before state gambling regulators come to a decision on the Cedar Rapids casino license.
He also went on to state that he worries about potential job losses and other negative effects that could stem throughout his district if a Cedar Rapids casino were to be built.
The bill also sets new criteria for the Iowa Racing and Gaming Commission to use when considering future casinos, including how much it would affect revenues from existing gambling facilities in Iowa.
Good to know: The Iowa Racing and Gaming Commission recently published its sports betting results for December 2024, including the state's handle having reached nearly $293.1m
Regulators would not issue new casino licenses if it was determined that doing so would “negatively impact the adjusted gross receipts of an existing casino” by more than 10% or “negatively impact the annual distributions” of grants to community organizations.
If an applicant was denied by the Commission, fellow applicants in the same county could not apply for a license for eight years under the bill.
