Study shows impact of casino in Cedar Rapids
CEDAR RAPIDS (AP) — A study says a proposed Cedar Rapids casino would dramatically reduce the revenue of other eastern Iowa casinos.
The research filed recently by New Orleans-based The Innovation Group says the proposed casino would take away $28 million annually from the Riverside Casino and Golf Resort. It says the new casino would take a total of $62 million from state-regulated casinos in eastern Iowa.
The Des Moines Register reports backers of a proposed casino have dismissed the findings and say it was commissioned by the Riverside casino. They say their own study forecasts smaller financial effects.
The Iowa Racing and Gaming Commission is conducting its own independent research on the matter. It is scheduled to make a decision in April over whether to grant a license for a new casino.