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Project’s backers say proposed Cedar Rapids casino would boost Iowa’s gaming revenue by $80M

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2024-09-17

Project’s backers say proposed Cedar Rapids casino would boost Iowa’s gaming revenue by $80M

Supporters of a Cedar Rapids casino say significant changes have occurred in Iowa’s gaming industry since their last application in 2017, including population growth and increased gaming revenues.

Casino backers on Monday unveiled their own market study that suggests a Linn County casino would increase Iowa’s net gaming revenues by more than $80 million.

The July study conducted by Convergence Strategy Group — a consulting firm in the casino gaming and leisure industries — anticipates a Cedar Rapids casino would draw 1.1 million visitors annually, contribute an estimated $80.2 million of new taxable revenue for the state of Iowa and divert $27.8 million in projected adjusted gross revenue from other commercial casinos in Iowa.

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