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Gaming Commission's Decision
COUNCIL BLUFFS, IA (CBS2/FOX28) - After years of planning and months of pitches, developers of a new casino in Cedar Rapids will leave empty handed today. By a vote of 4-1, the Iowa Racing and Gaming Commission rejected an application for a casino to be built in Linn County.
That casino would have been called Cedar Crossing Casino and would have been constructed at the corner of 1st and 1st NW in downtown Cedar Rapids.
Commissioners determined that casinos surrounding Cedar Rapids would have lost too much revenue to approve the plan in Cedar Rapids.
COUNCIL BLUFFS, Iowa (AP) -- The Iowa Racing and Gaming Commission has rejected a proposed $164 million Cedar Rapids casino, saying it would hurt existing casinos.
Supporters of the Cedar Crossing Casino development have said it would give an economic boost to Cedar Rapids and the region. They also argued it would be a catalyst for development in an area ravaged by a 2008 flood, create jobs and generate millions for tax revenue and charities.
But representatives of casinos in Riverside, Dubuque and Waterloo fought the plan, saying it would take business away from them.
The five-member commission voted 4 to 1 against the new casino. The panel hasn't approved a new casino license since 2010, when it called for a three- to five-year moratorium due to concerns about market saturation.
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