Cedar Crossing Casino & Entertainment Center approved by Iowa Racing and Gaming Commission: Proposed $275 million gaming venue breaks ground, set to open New Year’s Eve 2026
CEDAR RAPIDS, Iowa (Feb. 7, 2025) – Cedar Rapids Development Group (CRDG) – a subsidiary of Peninsula Pacific Entertainment (P2E) – and the Linn County Gaming Association (LCGA) held a groundbreaking ceremony today at the future site of Cedar Crossing Casino & Entertainment Center. Nonprofit groups, union representatives, business leaders and city officials joined the group to celebrate this milestone and share the next steps for development and construction. The Iowa Racing and Gaming Commission (IRGC) approved a gaming license for Cedar Crossing in a 4-1 vote during its February meeting at Prairie Meadows in Altoona.
“We are so thankful to the Commission for giving us a fair shot at sharing our vision and for making Cedar Crossing a reality,” said CRDG President Jonathan Swain. “This is a huge step in a long journey, and we are ready to deliver on our promise to Linn County and the State of Iowa.”
Following the groundbreaking ceremony, the project moves into its next critical phase with the official closing on final pieces of real estate paving the way for development. Construction activities will start with preparation work at the Cedar Crossing site on Monday, Feb. 10, including establishing proper elevations for flood control and on-site stormwater storage, as well as maintenance.
At the groundbreaking ceremony, P2E Founder and Chairman Brent Stevens announced that Cedar Crossing will open on New Year’s Eve, 2026.
Site Development Plans and Amenities
Cedar Crossing is a $275 million investment – the largest gaming project in Iowa’s history and one of the largest development plans in recent memory. At its heart, the project will include 700 slot machines and 22 table games, delivering an unparalleled gaming experience. Destined to be more than just a casino, Cedar Crossing will be designed to be a premier entertainment destination.
Cedar Crossing will feature a vibrant mix of restaurants that will cater to every taste, including:
Clubhouse by Zach Johnson, developed with Iowa’s champion golfer, the winner of the Masters and the Open, will be a relaxed, chef-run steakhouse featuring locally sourced steaks and chops, local brews and crafted cocktails.
World’s Fare will capture the essence of street food from various cultures, featuring dishes like Indian street food tacos, Korean-inspired crispy fried chicken, Mediterranean wraps, Tokyo tempura, French crêpes, Spanish churros and more.
River's Edge Smokehouse and Tap will offer farm-fresh meals, featuring the Iowa Titan Tenderloin, pub burgers, pulled pork, beef brisket and signature BBQ ribs. Live music takes center stage, featuring the best of rock, country and blues.
The facility will also feature a 1,500-capacity entertainment venue that will host top-tier performances and events, drawing visitors from across the state and beyond. This venue will raise the bar for entertainment options by attracting new energy and cementing a dynamic entertainment district.
The project will also include an Arts & Cultural Center that will become a cornerstone of community engagement, alongside a cutting-edge STEM lab designed to inspire and educate the next generation of innovators.
“Today marks an exciting new chapter for the thousands of people who will benefit from new jobs, economic opportunities and entertainment possibilities created by Cedar Crossing,” said Cedar Rapids Mayor Tiffany O’Donnell. “Iowa’s second-largest city has finally been given the opportunity that our residents, business leaders, nonprofits and surrounding communities have sought for years. Cedar Crossing will create new revenue for the state and bring new visitors every year – a solid win for every Iowan.”
Cedar Crossing will be built on the northwest side of Cedar Rapids at the former Cooper’s Mill site. The entertainment facility will revitalize an area that has not fully recovered from the devastating 2008 flood that inundated more than 10 square miles of the city. Given that this is a flood-prone area, developers will make several improvements and reinforcements at the site, including building the complex above the flood plain.
Tax Revenues, Tourism and Jobs
Two studies report the economic impact Cedar Crossing will have on Iowa: According to a July 2024 study by Convergency Strategy Group (CSG) – a leading consulting firm in the casino gaming and leisure industries – Cedar Crossing is anticipated to draw 1.1 million visitors annually. The facility will spur additional capital investments, revitalizing the area with new businesses, retail shops, restaurants and entertainment venues.
CSG also found that Cedar Crossing will contribute an estimated $80.2 million of new taxable revenue for the state of Iowa, which is an increase from a 2021 market study that showed a Cedar Rapids casino would create new taxable revenues of $51 million.
In addition to gaming-related taxes and distributions, the State of Iowa and Linn County will benefit from direct and indirect spending, ranging from sales and use taxes to incremental income and property taxes. CSG projects that annual incremental sales taxes generated by Cedar Crossing will be $2 million for the state and $300,000 for Linn County. Annual income tax revenues for the state are projected to total approximately $1.1 million.
During the construction phase, the project should sustain 931 construction jobs on site, and an additional 805 indirect jobs throughout the regional and state economy – a total of 1,736 jobs, of which 992 are expected in Linn County. Once operational, Cedar Crossing will create 300 full-time jobs.
In January 2025, Decision Innovation Solutions (DIS) – an Iowa-based economic research and analysis firm – released a comprehensive economic impact study on Cedar Crossing that projects an economic impact of $257 million during the construction phase and $183 million in the first year of operations. In total, from construction and the first 10 years of operations, this project represents more than $2.25 billion in economic impact.
Nonprofit Support
Cedar Crossing has long committed to contributing 8% of net adjusted gross revenue (AGR) to nonprofit organizations – the highest in the state. CSG found that approximately $6.3 million will be distributed annually to area nonprofit organizations, one of the reasons so many local organizations have enthusiastically voiced their support for a gaming facility in Linn County.
“For years, we have championed the Corridor nonprofits and their work here in the region – and we have witnessed the financial strain they are under to support our community’s critical needs. Today, we know they will have an impact on our community unlike anything before thanks to Cedar Crossing,” said LCGA President Anne Parmley. “We are so thankful for our nonprofits’ support – and we are even more grateful that they will finally realize the same levels of contributions that others in the state have benefited from.”
The Time is Now
“For years, we have asked Corridor residents to imagine the possibilities that Cedar Crossing can offer,” Swain said. “We are so thankful for the continued enthusiasm and passion shared by our large group of supporters – and finally, today, we can say that the time is now for Cedar Crossing to deliver and make those possibilities a reality.”