Studies: Cedar Rapids casino would take millions from others - KWWL - Eastern Iowa Breaking News, Weather, Closings

Studies: Cedar Rapids casino would take millions from others

Posted: Updated:
CEDAR RAPIDS (KWWL) -

Two statewide gaming market studies show a Cedar Rapids casino would take millions of dollars from nearby casinos.

In March 2013, Linn County voters overwhelmingly approved the idea of a Cedar Rapids casino. Since then, investors have been trying to convince the Iowa Racing and Gaming Commission.

Cedar Rapids resident Drake Wilson says he's in support of the casino, regardless of the study's findings.

"Everybody's got their on casinos they go to, whether it's one here or wherever else in Iowa, they're going to got to the one that they want to go to," said Wilson.

Greene County has also applied for a license.

The commission had two statewide studies done to see what the impact of new casinos would be on existing casinos in the state.

Marquette Advisers found that Cedar Crossings would bring in $81 million per year by 2017. However, $59 million would come from other casinos.

According to this study, Riverside Casino & Golf Resort would see the biggest impact, losing around $25 million.

The Isle Casino Hotel in Waterloo and Meskwaki would lose around $10 million.

Casinos in the Quad Cities would be down around $6 million and other casinos statewide just down $2 million.

The other study was done by Union Gaming. That study found that a Cedar Rapids casino would have an even bigger impact to Riverside -- taking more than $37 million a year.

Steve Gray, chairman of the Cedar Rapids Development Group says the proposed casino would be beneficial.

"Our proposed investment in Cedar Rapids would yield more revenue for the state and local communities and would not threaten the financial viability of any neighboring casinos," said Gray.

Wilson says he thought businesses are supposed to compete.

"Every business has competition, it's part of the way that it goes, it's just how it goes," said Wilson.

This study said Meskwaki would lose almost $11 million. The Isle in Waterloo would be down almost $9.3.

This study included numbers for the two Dubuque casinos, saying Diamond Jo would lose out on $4 million and Mystique would be down $2.4 million.

Members of the Iowa Racing and Gaming Commission has said these studies will have a big impact on their decision. The commission decides whether it will issue a Cedar Rapids casino license on April 17.

  • NEWSNEWSMore>>

  • August is Summer Sun Safety Month

    August is Summer Sun Safety Month

    Friday, August 1 2014 6:40 AM EDT2014-08-01 10:40:15 GMT
    Improper usage of sunscreen by your viewers may cause the very burn they are trying to prevent. Five bad sunburns can double your lifetime risk of melanoma, the deadliest form of skin cancer. Sunscreen only when applied or used properly will help. The UVA ray are primarily responsible for skin again also. The sun protection factor, or SPF, number on a bottle of sunscreen only measures UVB protection, he said. Labels will now show the phrase "broad-spectrum," which means protection against b...More >>
    Improper usage of sunscreen by your viewers may cause the very burn they are trying to prevent. Five bad sunburns can double your lifetime risk of melanoma, the deadliest form of skin cancer. Sunscreen only when applied or used properly will help. The UVA ray are primarily responsible for skin again also. The sun protection factor, or SPF, number on a bottle of sunscreen only measures UVB protection, he said. Labels will now show the phrase "broad-spectrum," which means protection against b...More >>
  • Run the bases 5K/10K benefit

    Run the bases 5K/10K benefit

    Friday, August 1 2014 6:32 AM EDT2014-08-01 10:32:03 GMT
    The first-ever Run the Bases 5K/10K will be hosted by the Cedar Valley SportsPlex on Saturday, August 16. All proceeds will benefit Build Our Ballpark. This event will include all levels of athletes, there will be a mile-long Fun Run at 8 a.m. for kids and families near Young Arena. Then the 5K and 10K races will take off simultaneously at 8:30 a.m. near the SportsPlex.More >>
    The first-ever Run the Bases 5K/10K will be hosted by the Cedar Valley SportsPlex on Saturday, August 16. All proceeds will benefit Build Our Ballpark. This event will include all levels of athletes, there will be a mile-long Fun Run at 8 a.m. for kids and families near Young Arena. Then the 5K and 10K races will take off simultaneously at 8:30 a.m. near the SportsPlex.More >>
  • Computer technician warns against public Wi-Fi

    Computer technician warns against public Wi-Fi

    Friday, August 1 2014 12:00 AM EDT2014-08-01 04:00:34 GMT
    When you connect to free or public wireless internet, you may be putting your personal information at risk.More >>
    When you connect to free or public wireless internet, you may be putting your personal information at risk.More >>
Powered by WorldNow
All content © Copyright 2000 - 2014 WorldNow and KWWL. All Rights Reserved.
For more information on this site, please read our Privacy Policy and Terms of Service and Mobile Privacy Policy & Terms of Service.

Persons with disabilities who need assistance with issues relating to the content of this station's public inspection file should contact Administrative Assistant Sandy Youngblut at 319-291-1259. Questions or concerns relating to the accessibility of the FCC's online public file system should be directed to the FCC at 888-225-5322, at 888-835-5322 (TTY) or at fccinfo@fcc.gov.