After years of waiting and speculation, local developers in Cedar Rapids are once again rolling the dice as Iowa’s moratorium on new casino licenses comes to an end.
The Cedar Rapids market has long been coveted by developers and casino operators for its proximity to major highways, existing tourism attractions, and population base. However, a moratorium put in place by the Iowa Racing and Gaming Commission in 2017 put a halt to any new casino developments in the state.
With the moratorium finally lifted, developers in the Cedar Rapids area are gearing up to submit their proposals for a new casino license. The competition is expected to be fierce, with several high-profile developers expressing interest in the market.
One of the leading contenders is Iowa based Wild Rose Entertainment, which already operates casinos in Emmetsburg, Clinton, and Jefferson. The company has been eyeing the Cedar Rapids market for years and is expected to submit a comprehensive proposal that includes a hotel, restaurants, and entertainment venues.
Another strong contender is Peninsula Pacific Entertainment, which operates the Hard Rock Hotel and Casino in Sioux City. The company has a track record of successful casino developments in Iowa and is expected to bring a unique and exciting offering to the Cedar Rapids market.
Local developers are also throwing their hats into the ring, with several groups exploring the possibility of bringing a new casino to Cedar Rapids. These developers are touting the economic benefits of a new casino, including job creation, increased tourism, and a boost to the local economy.
Despite the excitement surrounding the prospect of a new casino in Cedar Rapids, there are still hurdles to clear before any new developments can move forward. Developers will need to submit comprehensive proposals to the Iowa Racing and Gaming Commission, which will evaluate each proposal based on a variety of factors, including the economic impact, community support, and potential for success.
The commission is expected to make a decision on the new casino license in the coming months, with construction and development likely to follow soon after. For now, the developers in Cedar Rapids are rolling the dice once again, hoping that this time they’ll hit the jackpot.