Cedar Crossing Casino, a proposed casino in Cedar Rapids, Iowa, may potentially pull in $28 million in revenue from existing Iowa casinos, according to a recent report from Bonus.com.
The report, which analyzed the potential impact of the new casino on the state’s existing gambling establishments, found that Cedar Crossing Casino could have a significant impact on the state’s gaming industry. The $28 million in potential revenue represents a substantial chunk of the estimated $1.4 billion in revenue generated by Iowa’s casinos each year.
Cedar Crossing Casino is still in the planning stages, but if it does come to fruition, it could pose a major threat to existing casinos in the state. The report suggests that the new casino could siphon off customers from nearby establishments, leading to a decrease in revenue for those casinos.
According to the report, Cedar Crossing Casino would likely draw in customers from the surrounding area, including those who currently visit casinos in nearby states such as Illinois and Wisconsin. This influx of new customers could have a significant impact on existing casinos, potentially leading to a decrease in revenue for those establishments.
However, the report also notes that the establishment of Cedar Crossing Casino could have some positive effects on the state’s gaming industry as a whole. The addition of a new casino could attract more tourists to the state, leading to an increase in overall gaming revenue.
Overall, the report suggests that the potential impact of Cedar Crossing Casino on existing Iowa casinos is still uncertain. While the new casino could pose a threat to some establishments, it could also lead to an overall increase in revenue for the state’s gaming industry. Only time will tell what the future holds for Iowa’s gambling landscape.
