Cedar Crossing Gaming Application Presented to IRGC
Casino operator, nonprofit partner share development details with
Iowa Racing and Gaming Commission
BETTENDORF, Iowa (Oct. 3, 2024) – Today, Peninsula Pacific Entertainment (P2E), a national gaming operator and developer, and the Linn County Gaming Association (LCGA), a local nonprofit association, jointly presented their gaming license application to the Iowa Racing and Gaming Commission (IRGC) for the proposed Cedar Crossing Casino & Entertainment Center.
P2E executives, including Brent Stevens, Jonathan Swain and Aaron Gomes, showcased highlights from the project such as slot and table games, as well as amenities, including a 1,500-seat event center, restaurants and an Arts & Cultural Center. Cedar Crossing will also have a STEM Lab that features education-based experiences.
“Cedar Crossing will draw visitors from across the state and beyond. This venue is poised to become the driving force of Cedar Rapids’ revitalized downtown, infusing the area with new energy and excitement,” Swain said. “Cedar Rapids is a city on the rise, experiencing significant population growth, and the community has rallied behind Cedar Crossing, recognizing its potential to fuel further growth and development.”
Cedar Rapids Mayor Tiffany O’Donnell spoke about community support for Cedar Crossing at the meeting.
“What truly sets Cedar Crossing apart from other casinos is that the project has deep roots – it isn’t just backed by organizations,” O’Donnell said. “Cedar Crossing proudly stands with the support of a diverse group of small business owners, community leaders, and everyday residents who believe deeply in the positive impact the casino will have for our region. They recognize that Cedar Crossing is not just about gaming; it is about growth opportunities and revitalization.”
P2E and LCGA have previously committed to contributing 8% of Cedar Crossing’s net adjusted gross revenue (AGR) to nonprofit organizations – the highest in the state. Iowa mandates that licensed casinos donate at least 3% to nonprofits. The $6.3 million in annual contributions will be a major boost to area organizations, a reason so many local organizations have voiced their support for the project.
“Since I became president of the LCGA three years ago, I was convinced that the revenue a local casino would generate for our community nonprofits would be life-changing,” said Anne Parmley, president of the LCGA. “Three years later, that need is still there. Organizations are strained more now than before. As we look at how these contributions can positively impact homelessness, affordable housing, veterans’ services and senior care – among many, many other causes – we can be proud of how much the region will benefit, as well as how this pie gets bigger for the state, if Cedar Crossing becomes a reality.”
Cedar Crossing development plans were shared with the public at a press conference in September. During today’s meeting, a video was shared that featured a look indoors from guests’ point of view, including the gaming space, restaurants and other property details.
Earlier this year, P2E commissioned a gaming market study that was conducted by Convergence Strategy Group (CSG). Suzanne Leckert, co-founder and partner at CSG, shared details of the study at today’s IRGC meeting and described the positive economic impact that Cedar Crossing will have on Cedar Rapids, the Corridor and the state of Iowa.
“In addition to more than 500 jobs created once it is operational, Cedar Crossing is projected to contribute greatly to state, county and city budgets,” Leckert said. “These jobs created and related earnings and spending will move their way through the economy and tax receipts.”
In August, the IRGC selected The Innovation Group and Marquette Advisors to prepare gaming market studies as part of the commission’s consideration for a gaming license. The IRGC has scheduled a Cedar Crossing site visit that will follow a Q&A/public comment meeting at The Hotel at Kirkwood Center on Wednesday, Nov. 20, 2024. The commission will vote on granting a license on Thursday, Feb. 6, 2025.
“This is no longer just about building a casino – it’s about building a future for Cedar Rapids. The city has seen population growth and unmet demand for entertainment, dining, and cultural experiences, and we’re here to meet that need,” Stevens said. “We’ve expanded the scope of Cedar Crossing t will draw people to Cedar Rapids, support local businesses, and become a cornerstone of the community.”
For more information, please visit CedarCrossing.com.
###