Developers in Cedar Rapids wasted no time turning plans into action. Just a day after securing a long-sought gaming license, Peninsula Pacific Entertainment (P2E) and the Linn County Gaming Association (LCGA) hosted a groundbreaking ceremony on Friday, marking the start of construction for the $275 million Cedar Crossing Casino and Entertainment Center. If all goes according to plan, doors will open on New Year’s Eve 2026.
A Decade in the Making
For P2E and LCGA, this milestone didn’t come easy. Cedar Rapids officials, including Mayor Tiffany O’Donnell, have been pushing for a casino for over a decade. Previous proposals were shot down, but persistence paid off.
Brent Stevens, chair of P2E, made his confidence clear. “We’ve been here in the great state of Iowa for over 25 years, building three world-class facilities in Dubuque, Northwood, and Sioux City, and here we are in Cedar Rapids,” he said during the event. “This is going to be the best one yet.”
What to Expect from Cedar Crossing
The Cedar Crossing Casino and Entertainment Center is set to be a major attraction. Developers have promised a high-end experience, complete with gaming, live entertainment, and a unique community-focused feature.
- 700 slot machines and 22 table games
- A 1,500-seat entertainment venue
- A STEM lab for children
- 8% of net adjusted gross revenue allocated to local non-profits—more than twice the state minimum
Construction is scheduled to begin Monday, February 10, and developers are confident they’ll hit their target opening date.
License Secured After Previous Rejections
The Iowa Racing and Gaming Commission (IRGC) granted approval on Thursday in a 4-1 vote. Commissioner Alan Ostergren was the lone dissenter, citing past legal disputes.
This wasn’t the first time Cedar Rapids tried to get a casino. Two earlier attempts were denied, with regulators fearing a new facility would pull business from existing Iowa casinos. The state, with a population of 3.2 million, already has 20 commercial and four tribal casinos.
A Win for Cedar Rapids, But at What Cost?
While the approval is a win for Cedar Rapids, concerns about market saturation haven’t disappeared. Two independent studies—one from Marquette Advisors and another from the Innovation Group—suggested that while the casino would generate around $60 million in new gaming revenue, a significant portion of its earnings would come at the expense of existing Iowa casinos.
The studies also estimated that the state would see an additional $10.5 million in gaming taxes annually. That figure likely played a role in swaying the IRGC’s final decision.
What Happens Next?
With shovels already in the dirt, construction will be the focus over the next few years. The casino’s impact—on the local economy, the broader Iowa gaming market, and surrounding businesses—will become clearer as 2026 approaches.
For now, Cedar Rapids leaders and developers are celebrating a long-awaited victory. Whether the gamble pays off for Iowa as a whole remains to be seen.
