Key points:
- A groundbreaking ceremony hosted by CRDG and LCGA will be held at the casino site with nonprofit groups, union representatives and city officials in attendance
- The casino portion of the project will include 700 slot machines and 22 table games for eligible residents of Iowa
The Iowa Racing and Gaming Commission (IRGC) has voted 4-1 to approve the $275m Cedar Crossing Casino & Entertainment Center project, which will hold a groundbreaking ceremony on February 7 hosted by the Cedar Rapids Development Group (CRDG) and Linn County Gaming Association (LCGA).
“We are so thankful to the Commission for giving us a fair shot at sharing our vision and for making Cedar Crossing a reality,” CRDG President Jonathan Swain said.
“This is a huge step in a long journey, and we are ready to deliver on our promise to Linn County and the State of Iowa.”
Nonprofit groups, union representatives, business leaders and city officials are expected to join CRDG and LCGA to celebrate the groundbreaking milestone and share the next steps for development and construction.
The project’s casino portion will include 700 slot machines and 22 table games for eligible Iowa residents and guests. The facility will also feature a 1,500-capacity entertainment venue that will host a variety of performances and events.
Good to know: The IRGC published its sports betting results for the month of December on January 13, including the state's sports betting handle reaching nearly $293.1m
“Today marks an exciting new chapter for the thousands of people who will benefit from new jobs, economic opportunities and entertainment possibilities created by Cedar Crossing,” Cedar Rapids Mayor Tiffany O’Donnell said.
“Iowa’s second-largest city has finally been given the opportunity that our residents, business leaders, nonprofits and surrounding communities have sought for years. Cedar Crossing will create new revenue for the state and bring new visitors every year – a solid win for every Iowan.”
The Cedar Crossing project is expected to contribute an estimated $80.2m of new taxable revenue for the state of Iowa, which is an increase from a 2021 market study that showed a Cedar Rapids casino would create new taxable revenues of $51m.
Cedar Crossing has long-committed to contributing 8% of its net adjusted gross revenue (AGR) to nonprofit organizations, the highest percentage of AGR contribution by any gaming facility in the state.
Construction activities will continue with preparation work at the Cedar Crossing site on February 10, including establishing proper elevations for flood control and on-site stormwater storage, as well as maintenance.
