CEDAR RAPIDS, Iowa (KCRG) – Cedar Rapids Mayor Tiffany O’Donnell said the two studies didn’t necessarily bring any surprises, and depending on which side you’re on, you might have received the two studies differently.
Supporters of a new casino look forward to its new revenue and tax dollars, whereas opponents are concerned about how much money other casinos in the state could lose.
“Everyone needs to care about this development. Gamblers, non gamblers,” O’Donnell said.
For Mayor O’Donnell, the prospect of the Cedar Crossing Casino and Entertainment Center is an exciting one.
Two studies paid for by the Iowa Racing and Gaming Commission say even after taking into account revenue other casinos in the state would lose to a Cedar Rapids casino, a new casino would generate upwards of $60 million in net gaming revenue.
“I mean if 60 million dollars in new revenue is the bottom… I’m here for that,” O’Donnell said.
O’Donnell said the riverfront development would be a catalyst for further development on the west side of the city.
“You don’t ever have to step foot in the casino to reap the benefits of a healthy, vibrant city,” O’Donnell said.
Aside from the tens of millions of dollars in local revenue the two studies project the casino would bring, one of the studies says the casino would bring in $13.7 million in local taxes.
O’Donnell says those tax dollars are especially crucial as the state government prioritizes tax relief, which impacts the revenue local governments can draw.
“We’re filling that gap right now with reserves. Reserves aren’t sustainable. Right now if I’m looking at these studies correctly I’m seeing a minimum of $60 million in new revenue,” O’Donnell said.
The Iowa Racing and Gaming Commission paid for the studies to inform its decision to award a new casino license.
But lawmakers could again intervene and halt any new licenses through a moratorium, something that enraged Cedar Crossing supporters when it happened in 2022.
“There’s all kinds of rumblings at the state house about a moratorium. This is a small state, I’m gonna hear about it and I’m hearing about it, and I don’t like it. I don’t think it’s fair, I think it stinks,” O’Donnell said.
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