Published on: September 19, 2024, 08:50h.
Last updated on: September 19, 2024, 08:50h.
Developers proposing a casino in Cedar Rapids, Iowa, shared updated details of the project this week.
Peninsula Pacific Entertainment (P2E) from California is collaborating with the Cedar Rapids Development Group and Linn County Gaming Association on a $275 million project. The development includes a casino floor with 700 slot machines, 22 live dealer table games, and a sportsbook. The entertainment facility covers 160,000 square feet and features a 1,500-seat concert venue, over 1,100 parking spaces, and various dining options.
Jonathan Swain, president of P2E, announced at the Cedar Crossing Casino presentation that the project still plans to work with golfer Zach Johnson, a native of Iowa and winner of the 2007 Masters and 2015 Open Championship.
A restaurant at the casino, named Zach Johnson’s Clubhouse, will be themed around sports and offer steaks, chops, and craft cocktails.
Johnson’s reputation in the golf world has suffered due to his performance as captain of the 2023 U.S. Ryder Cup Team and a recent incident at the 2024 Masters.
The Iowa Racing and Gaming Commission (IRGC) is revisiting the Cedar Rapids casino proposal now that a two-year moratorium has ended. Proponents argue that the increased population in Linn and Johnson counties and competition from neighboring states warrant expanding gaming options in Iowa.
A feasibility study commissioned by the IRGC estimates that the casino could attract 1.1 million visitors annually and generate over $80 million in new state tax revenue. However, some existing Iowa casinos may lose revenue as a result. Overall, the net tax benefit is anticipated to be over $52 million.
The proposed location for the casino is the site of the former Cooper’s Mill hotel and restaurant. Although there will be no on-site lodging, the casino plans to partner with nearby hotels. The Cooper’s Mill property has been vacant since its demolition in 2017.
The mayor of Cedar Rapids, Tiffany O’Donnell, believes that the casino will revitalize the area and attract residents and businesses.
The IRGC is expected to review the Cedar Crossing Casino proposal at its upcoming meeting and make a final decision in February 2025.
STEM Lab
As part of their commitment, P2E has pledged to donate 8% of the casino’s revenue to charitable organizations in Linn County. Additionally, the latest plans include a STEM lab and arts and cultural center, separate from the casino.
The STEM lab and cultural arts center will offer educational exhibits and opportunities for students, operated in collaboration with the National Geographic Society.
These additional features aim to enhance the appeal of the Cedar Crossing Casino project and benefit the local community.