Chavdar Vasilev is a journalist covering the casino and sports betting market sectors for CasinoBeats. He joined CasinoBeats in May 2025 and reports on industry-shaping stories across the US and beyond, including legislative debates, market...
Read Full BioThe long-awaited Cedar Crossing Casino & Entertainment Center in Cedar Rapids is on track to open on December 31, 2026, with the completion of the building’s shell. The project represents the most significant gaming development in Iowa in over a decade.
While it’s moving on track, the $275 million Cedar Rapids casino has taken a long road to this point. It previously faced stalled proposals, regulatory hesitations, and a high-profile lawsuit from a competing operator.
Speaking to local news outlets, project leaders expressed satisfaction with the completion of the shell in nine months. That would allow crews to transition to interior construction over the winter. The goal is to have major sections completed by late 2026, allowing the facility to open on New Year’s Eve.
Still, Kim Pang, vice president of development for Peninsula Pacific Entertainment (P2E), the company behind the project, didn’t confirm whether everything is moving as scheduled, leaving some uncertainty around the opening date.
A Project More Than a Decade in the Making
Cedar Rapids has attempted to secure a commercial casino license for years. Local backers first submitted proposals in 2014 and again in 2017. Still, the Iowa Racing and Gaming Commission (IRGC) denied both applications. As reasons, it cited concerns about cannibalizing nearby casinos, especially Riverside Casino & Golf Resort, located roughly 40 miles away.
In the third effort in 2021, Linn County voters approved a gaming referendum. In February 2025, after a two-year moratorium on gambling expansion expired, the IRGC finally approved the proposal. With a 4–1 vote, it awarded a license to the Cedar Crossing development team. The team includes P2E and the Cedar Rapids Development Group.
The approval came as Iowa regulators signaled interest in casino projects built around broader entertainment and community amenities. Cedar Crossing leaned into that vision by positioning the facility as an anchor attraction rather than a standalone gaming hall.
What Cedar Crossing Will Include
According to project filings and public statements, Cedar Crossing will include:
- Approximately 700 slot machines and 22 table games
- A 1,500-seat entertainment and performance venue
- Multiple bars and restaurants
- An arts and culture center
- A STEM innovation lab designed for community programming and educational partnerships
Developers claim the non-gaming components will strengthen the project’s long-term appeal. They also address past regulatory concerns.
The Riverside Lawsuit: A Final Hurdle
The project’s biggest challenge came from Riverside Casino & Golf Resort, which filed a lawsuit aimed at blocking the license. Riverside — operated by Elite Casino Resorts — argued that the Linn County referendum contained improper language.
Riverside also argued that the IRGC lacked the authority to grant the license. Furthermore, the plaintiff claimed that the regulator failed to adequately consider the negative impact it would cause.
In March 2025, an Iowa district judge declined Riverside’s request to temporarily halt the Cedar Rapids casino license. However, Eighth Judicial District Judge Michael Schilling suggested that the referendum’s language could have been misleading.
In June 2025, Schilling rejected the challenge. He ruled that the IRGC’s licensing decision “cannot be fairly characterized as an erroneous interpretation of law.” The ruling cleared the way for construction to proceed. Riverside initially suggested it would pursue further legal action, but ultimately dropped its appeal.
Economic Impact: Revenue, Cannibalization, and Tax Contributions
Economic studies submitted to the IRGC estimate that Cedar Crossing could generate between $116.5 million and $118 million in annual gaming revenue once fully matured. However, that comes with a significant impact on existing casinos.
Marquette Advisors estimates Cedar Crossing would reach $118 million in adjusted gross revenue (AGR) by FY 2029. Of that total, roughly $68 million would come from cannibalizing other Iowa casinos. As it’s the closest, Riverside Casino will feel the most significant impact with about $34 million in lost annual revenue.
The Innovation Group forecasts $116.5 million in net gaming revenue by FY 2028. Of that, $55.7 million will come from cannibalization.
Still, while both studies conclude that Cedar Crossing will significantly cannibalize other properties, the net gain for the state is expected to be around $60 million in taxable revenue.
City and state analyses anticipate more than $34 million in combined annual tax revenue once the casino reaches full operation.
Cedar Crossing will also pay a $20 million state licensing fee, spread over five yearly installments. Furthermore, it has committed to donating 8% of AGR to local nonprofits, more than double Iowa’s minimum requirement.
Broader economic studies forecast a regional economic impact of over $2.2 billion during the first decade.
