Racing and Gaming Commission will consider Linn County casino - KWWL - Eastern Iowa Breaking News, Weather, Closings

Racing and Gaming Commission will consider Linn County casino application

The Iowa Racing and Gaming Commission will consider an application for a Linn County casino license.

The decision effectively ends a self-imposed three year moratorium on new casino licenses.

The Cedar Rapids Development Group has grown to more than 170 investors looking to build a $110 million to $115 million casino.

Investors are in the process of finishing several steps before submitting an application.

Investors need to name an operator, finalize the casino design, complete financing, and have a development agreement with the city of Cedar Rapids before submitting the application.

The IRGC has set a deadline for the application of September 3rd.

"We've been at this for the better part of two years now, and we have tried to be very thoughtful, and very deliberate every key step of this process," said lead investor Steve Gray.

The IRGC is also beginning the process to conduct one or two market studies.

Results from these studies would be part of the criteria the IRGC considers before granting new gaming licenses.

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