{"id":8408,"date":"2024-12-20T07:11:58","date_gmt":"2024-12-20T07:11:58","guid":{"rendered":"https:\/\/slategray-wallaby-310340.hostingersite.com\/index.php\/2024\/12\/20\/cedar-rapids-city-council-approves-agreement-for-150-million-casino-project\/"},"modified":"2024-12-20T07:11:58","modified_gmt":"2024-12-20T07:11:58","slug":"cedar-rapids-city-council-approves-agreement-for-150-million-casino-project","status":"publish","type":"post","link":"https:\/\/casino-online-best.com\/index.php\/2024\/12\/20\/cedar-rapids-city-council-approves-agreement-for-150-million-casino-project\/","title":{"rendered":"Cedar Rapids City Council Approves Agreement for $150 Million Casino Project"},"content":{"rendered":"<div>\n<p>A $150 million development agreement for the proposed <a href=\"https:\/\/igaming.org\/casino-news\/iowa-casinos-worry-about-cedar-crossing-casinos-impact\/\">Cedar Crossing Casino<\/a> has been approved by the Cedar Rapids City Council. The deal, which was approved on December 17, reaffirms a collaboration with Peninsula Pacific Entertainment\u2019s (P23) Cedar Rapids Development Group (CRDG). The Iowa Racing and Gaming Commission\u2019s decision on a Linn County gaming license, which is anticipated on February 6, 2025, will determine the project\u2019s future.<\/p>\n<h2>Economic Impact and Community Benefits<\/h2>\n<p>Located on city-owned land that was damaged during the 2008 flood, the casino would occupy 110,000 square feet, including a 39,000-square-foot gaming floor. The plans also feature dining options, event spaces, and a cultural center, as well as 1,100 parking spaces. Flood mitigation measures will be incorporated to meet deed restrictions, ensuring the casino is built with long-term resilience in mind.<\/p>\n<p>As part of the agreement, the developer has committed to paying monthly Community Betterment Payments, equivalent to 2.25% of the casino\u2019s adjusted net gaming win, in addition to state-mandated taxes. In a move that goes beyond the state requirements, Cedar Crossing also plans to allocate 8% of its adjusted gross revenues\u2014around $6.3 million\u2014to local nonprofits, helping to further strengthen the community.<\/p>\n<p>While the project promises potential economic growth, some council members have expressed skepticism. Councilmember Ashley Vanorny criticized the design, describing the casino as \u201cjust a big box store\u201d and questioning its ability to revitalize downtown. On the other hand, Councilmember Scott Olson noted the positive impact the casino could have on the city\u2019s west side, saying,<em> \u201cPeople are going to gamble, whether we like it or not. Should we gain from that? I think we should.\u201d<\/em><\/p>\n<p>Councilmember Dale Todd emphasized that no other development plans had been proposed for the site, making the casino a viable option, even if it may not be a \u201csavior\u201d for the city. Tyler Olson pointed to the strong community support, adding, <em>\u201cMinus the gambling, we would all be very excited about this in the community.\u201d<\/em><\/p>\n<div class=\"main-org-3-item-ins box-100 relative mb-4\">\n<div class=\"space-org-3-items box-100 relative\">\n<div class=\"box-100 space-org-3-item relative border-tb mt-1 \">\n<div class=\"space-org-3-item-ins box-100 relative\">\n<div class=\"space-org-3-item-logo box-25 relative\">\n<div class=\"space-org-3-item-logo-ins box-100 text-center relative\">\n<div class=\"space-org-logo-title-box box-100 text-left relative\">\n<div class=\"space-org-3-item-logo-box box-25 relative img-radius\">\n\t\t<a href=\"https:\/\/igaming.org\/site\/betus\/\" title=\"Visit Site\" target=\"_blank\" rel=\"nofollow\"><br \/>\n\t\t<amp-img alt=\"BetUS\" src=\"https:\/\/igaming.org\/wp-content\/uploads\/2023\/01\/BetUS.png.webp\" width=\"50\" height=\"50\" layout=\"fixed\"><br \/>\n\t\t<\/amp-img><br \/>\n\t\t<\/a>\n\t\t<\/div>\n<div class=\"space-org-3-item-logo-title box-25 relative py-10\">\n\t\t<a href=\"https:\/\/igaming.org\/site\/betus\/\" title=\"BetUS\" target=\"_blank\" rel=\"nofollow\">BetUS<\/a>\n\t\t<\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div class=\"space-org-3-item-terms box-25 relative\">\n<div class=\"space-org-3-item-terms-ins box-100 text-center relative\">\n\t\t<strong><strong>Get 125% \/ $2,500 on 1st deposit!<\/strong><\/strong><br \/>\n\t\t<\/p>\n<div class=\"pt-1\">New players only. Exclusive Welcome Bonus of up to $2,500<\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div class=\"space-org-3-item-rating box-25 relative mb-10\">\n<div class=\"rating-box text-center box-100  relative\">\n<div class=\"space-org-3-item-rating-box relative\">\n<div class=\"stars\"><span class=\"star on\"><\/span><span class=\"star on\"><\/span><span class=\"star on\"><\/span><span class=\"star on\"><\/span><span class=\"star on\"><\/span><\/div>\n<div class=\"space-org-rating-notice relative\">Casino &#038; Sports<\/div>\n<\/p><\/div>\n<p>\t\n\t\t\t\t <\/div>\n<\/p><\/div>\n<div class=\"space-org-3-item-button box-25 relative\">\n<div class=\"space-org-3-item-button-ins box-100 text-center relative\">\n\t\t\t\t<a href=\"https:\/\/igaming.org\/site\/betus\/\" title=\"Visit Site\" target=\"_blank\" rel=\"nofollow\">\tVisit Site<\/a>\n\t\t\t<\/div>\n<\/p><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<p>Cedar Rapids Mayor Tiffany O\u2019Donnell, a long-time advocate for a casino in the area, praised the project\u2019s strategic location downtown, calling it a critical factor in her support. She added, <em>\u201cI support this casino because of where it is \u2026 If we have ideas to make it even better, I encourage that conversation.\u201d<\/em><\/p>\n<p>The proposal, however, faces opposition from other Iowa casinos concerned about potential revenue losses. If approved, construction could begin soon, with the casino expected to open within two years.<\/p>\n<p>The post <a href=\"https:\/\/igaming.org\/casino-news\/cedar-rapids-city-council-approves-agreement-for-150-million-casino-project\/\">Cedar Rapids City Council Approves Agreement for $150 Million Casino Project<\/a> appeared first on <a href=\"https:\/\/igaming.org\/\">iGaming.org<\/a>.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>A $150 million development agreement for the proposed Cedar Crossing Casino has been approved by the Cedar Rapids City Council. The deal, which was approved on December 17, reaffirms a collaboration with Peninsula Pacific Entertainment\u2019s (P23) Cedar Rapids Development Group (CRDG). The Iowa Racing and Gaming Commission\u2019s decision on a Linn County gaming license, which [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"footnotes":""},"categories":[],"tags":[],"class_list":["post-8408","post","type-post","status-publish","format-standard","hentry"],"blocksy_meta":{"styles_descriptor":{"styles":{"desktop":"","tablet":"","mobile":""},"google_fonts":[],"version":6}},"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/posts\/8408","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/comments?post=8408"}],"version-history":[{"count":0,"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/posts\/8408\/revisions"}],"wp:attachment":[{"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/media?parent=8408"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/categories?post=8408"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/tags?post=8408"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}