Politics

Iowa Governor Signs Gaming Bill, Says No New Casinos For Two Years

By Ilyane Thoumi,

Iowa Gov. Kim Reynolds signed a gambling bill that adds new sports bets for customers. However, it also includes a two-year moratorium on new casino licenses. This blocks the proposed $250 million Cedar Crossings entertainment and cultural center in Cedar Rapids.

HF 2497 allows Iowa sports betting customers to place wagers on non-sporting events like awards and draft positions. It also allows bettors to bet on charity golf results. The language regarding betting on games like Counter-Strike: Global Offensive and League of Legends did not make it into the final draft.

Iowa Governor Signs Gaming Bill, Says No New Casinos For Two years. Iowa Gaming Association President and CEO Wes Ehrecke explains why the bill was passed.

Iowa governor signed a bill banning new casinos for two years. Iowa Racing and Gaming Commission Vice-Chair Daryl Olsen is disappointed with the legislature's decision to block new casino applications. Cedar Rapids Development Group and Linn County Gaming Association planned to apply for a gaming license with IRGC jointly.

Iowa Governor Signs Gaming Bill, Says No New Casinos For Two years.

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#sportsbetting revenue up 57.7% year-on-year in July The Iowa Racing and Gaming Commission has reported $11.2m in sports wagering revenue for July.

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@Betfred to sponsor Iowa Wild hockey team The firm has signed a multi-year sponsorship agreement with the hockey team.

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@Betfred seals multi-year sponsorship deal with Iowa Wild

@Betfred seals multi-year sponsorship deal with Iowa Wild
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Casinos in Iowa report record revenue in FY2022

Iowa casinos reported record profits in fiscal 2022. They made $1.76 billion in gross revenue for traditional casino games and slots and $139 million in sports wagering. The record revenue coincided with a rise in visits to Iowa casinos compared to the previous year. Online sports betting handle more than doubled from $985 million to $2.2 billion this past year in Iowa. Legislators placed a two-year moratorium on any new casinos in the state. Linn County leaders had developed a proposal for a new casino on the west side of the Cedar River from downtown.
Finance
Casinos in Iowa report record revenue in FY2022

Benton County Man Wins Big InstaPlay Lottery Prize

Skyler Kimm, 29, of Blairstown, won a jackpot prize of $60,144 in the Iowa Lottery's "JACKPOT PARTY Progressive" InstaPlay game. He bought his winning ticket at Kim's Mini Mart, 604 Locust St. in Bl airstOWN. Kim, a sheet metal-worker, claimed his prize on Wednesday at the lottery's Cedar Rapids regional office.
Winnings

Potential Cedar Rapids casino operator sells some assets to Churchill Downs

Potential Cedar Rapids casino operator sells some assets to Churchill Downs Inc. Peninsula Pacific Entertainment is selling its Sioux City casino and other properties to the company. The deal is between Churchill and Peninsula. P2E was founded in 1999 as the holding company for Peninsula Gaming, which owned the Diamond Jo Casino in Dubuque. It was sold in 2012 to Boyd Gaming Corp. in a $1.45 billion deal. Jonathan Swain, president of P 2E, said the deal does not change investors’ plans to secure a gaming license from the Iowa Racing and Gaming Commission to build a casino in Linn County.
Industry
Potential Cedar Rapids casino operator sells some assets to Churchill Downs

Iowa’s casino cartel remains the favorite in latest C.R. license push

The Iowa Racing and Gaming Commission will grant a Cedar Rapids casino a license. The commission voted down license bids in 2014 and 2017. There are concerns about the potential cannibalization of gaming revenue by a new casino. The state's regulatory philosophy has been to encourage large, pricey casino developments with multiple amenities. It's not a free market. New casinos in Nebraska, Illinois and Wisconsin will take a sizable chunk out of total Iowa gaming revenues. A study by the Innovation Group argued that a local casino would increase state gambling revenue. That would soften the revenue blow delivered by out-of-state competition.
Gaming Authorities
Iowa’s casino cartel remains the favorite in latest C.R. license push
IN THIS ARTICLE
#Iowa

Poker is endangered in Iowa. Could online gambling save it?

Gambling industry in Iowa is reluctant to introduce new betting methods. However, the state legalized sports betting and provided an online component in 2019. The next step would be to legalize online poker. Online poker has a large illicit market and a burgeoning legal one in a few other states. In 2003 Chris Moneymaker won the World Series of Poker Main Event from a $39 online tournament. There are 47 legal poker tables in the Iowa, spread out among five casinos. There were 112 poker rooms in 2011. Poker's popularity is owed in large part to online gambling. It's also due to the poker boom of the early 2000s.
Poker
Poker is endangered in Iowa. Could online gambling save it?

As casino backers look to pass Linn County gaming referendum, potential location uncertain

Voters in Linn County will decide on November 2 whether to keep the door open for a Loon County community to operate a licensed casino. If the referendum passes, the community could apply in perpetuity for the license. The city of Cedar Rapids has an agreement with the Cedar Rancher Development Group through October 2029. The group is focused on the November referendum. There is no decision on a location or an architect yet. Regulators in 2014 and 2017 rejected the city's casino proposals.
Law
As casino backers look to pass Linn County gaming referendum, potential location uncertain

Iowa Gaming Association considering push to legalise online gambling

Iowa Gaming Association is preparing for a possible push to get legislative approval for online gambling in the Midwestern State. The issue cannot be brought before the house or senate before next year's session, but the trade body is looking to gain traction on a proposed bill. If successful, it would fundamentally alter the state's gaming industry. The state’s sports betting industry launched two years ago, recording a record $200m revenue from wagers in September 2021.
Sports
Iowa Gaming Association considering push to legalise online gambling
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The Gazette’s endorsement: Vote ‘yes’ on Linn County casino gambling referendum

Voters will decide on November 2 whether to renew Linn County's casino gambling authorization. The Gazette's editorial board endorses "yes" on the referendum. Ln. County is the most populous county in Iowa with no casino. Five of Iowa's 10 largest counties have casinos. Nebraska is in the process of liberalizing its gambling laws to allow for casinos and there are plans to open one in neighboring Omaha. Iowa has legalized sports betting. It's not clear whether the industry landscape has changed since the previous casino proposal was rejected. There is no organized "no" faction for the upcoming vote.
Law
The Gazette’s endorsement: Vote ‘yes’ on Linn County casino gambling referendum

For now, ‘potential’ is all Cedar Rapids casino backers have

Supporters of a potential casino in Cedar Rapids gathered for lunch this past week. Linn Wins! is the campaign organization trying to convince county voters to renew the gambling referendum approved in 2013. Dubuque-based Peninsula Pacific Entertainment is planning to run the joint. The city's preferred developer is Cedar Rancher's Development Group. A future casino would provide 8 percent of its revenues to local nonprofits. It can only happen if the Iowa Racing and Gaming Commission grants a license. The commission turned down two previous casino proposals in 2014 and 2017. However, the membership has changed since then.
Gaming Authorities
For now, ‘potential’ is all Cedar Rapids casino backers have

Linn County gambling reauthorization referendum to appear on November ballot

Linn County Board of Supervisors adopted the resolution at a July 14 meeting by a vote of 3-0. The vote will take place on November 2, 2021. Linn has no boats or buildings that house gambling operations. Approval of this reauthorization does not guarantee that such a facility will be developed.
Law
Linn County gambling reauthorization referendum to appear on November ballot

Another Linn County gambling vote, but gaming has changed

There's talk about a Linn County gambling referendum this fall. The group of investors that owns a casino in Cedar Rapids is looking for a new source of revenue. Ho-Chunk, Inc. has plans to build three casinos in Nebraska. Iowa has legalized in-person and online sports betting. People want to gamble at home or close to home. Iowa Racing and Gaming Commission has turned down four state license requests for Cedar Rancheria casino projects in 2014 and 2017. Nebraskans gamble $500 million at Iowa casinos. It's possible state regulators might be interested in new sources of gaming bucks from a city.
Gaming Authorities
Another Linn County gambling vote, but gaming has changed
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