PENN Entertainment is set to begin construction on the upcoming Hollywood Casino Hotel Council Bluffs in Iowa on September 14th. The new land-based casino is scheduled to open in 2028.
The US gaming company has announced a project worth $180 million to $200 million to replace its current Ameristar Council Bluffs riverboat casino, pending regulatory approvals. The groundbreaking ceremony will take place at 10 a.m. CT.
The new casino will offer approximately 1,000 slot machines and 25 live table games, along with two dining options: the first Shake Shack in the Omaha metropolitan area and Red Lotus, a fast-casual restaurant serving Asian cuisine, noodle dishes, and Southeast Asian specialties.
Hollywood Council Bluffs will be connected to the existing pavilion and hotel, providing direct access to over 160 hotel rooms, 1853 Bistro and Steakhouse, The Sportsbook Restaurant and Bar, Club 38 VIP Lounge, and the Buffet.
The construction phase is expected to create about 450 construction jobs over 18 to 24 months. PENN anticipates approximately 50 new permanent positions upon the casino’s opening. The current Ameristar Council Bluffs riverboat casino employs more than 500 team members.
“We are excited to mark another transition from riverboat gaming to a state-of-the-art entertainment destination,” said Jay Snowden, CEO and President of PENN Entertainment. “With our recent announcement in New Orleans, we are committed to organic growth opportunities while strengthening PENN’s competitive position nationwide.”
Paul Czak, Vice President and General Manager of Hollywood Council Bluffs, emphasized that the groundbreaking event is a significant step towards creating a new facility that will generate hundreds of jobs and enhance the entertainment options for guests.
Local officials and stakeholders are expected to attend the groundbreaking ceremony, including representatives from the Iowa West Racing Association, the property’s nonprofit partner.
Iowa mandates that commercial gaming operators must have an operating agreement with a nonprofit Qualified Sponsoring Organization (QSO) to conduct gaming operations.
Hollywood Council Bluffs will become the 20th Hollywood-branded gaming facility in PENN’s portfolio and marks the company’s third landside relocation in recent years. Previously, PENN successfully opened Hollywood Casino Joliet and Hollywood Casino Hotel Aurora in Illinois in 2025 and 2026, respectively.
PENN is also pursuing a similar relocation and rebranding of its New Orleans riverboat operations. The proposed Hollywood Casino New Orleans is scheduled to open in 2029, pending regulatory approval.
For the Council Bluffs project, PENN can secure up to $150 million in financing from Gaming and Leisure Properties at a 7.10% cap rate. The funding can be structured either as rent or as a five-year loan with the option for early repayment without a penalty.