CEDAR RAPIDS, Iowa — Construction of the long-anticipated $275 million Cedar Crossing Casino is ramping up, marking a major milestone for Iowa’s gaming industry and the Cedar Rapids community.

Vertical construction work is now visible at the site west of the Cedar River, near downtown Cedar Rapids. This new phase follows the groundwork that began earlier this year after the Iowa Racing and Gaming Commission (IRGC) voted 4-1 in February to approve Linn County’s long-awaited casino license.

Once completed, Cedar Crossing Casino will be Iowa’s 20th state-licensed gaming facility, offering a new entertainment destination for the region. The official grand opening is slated for New Year’s Eve, December 31, 2026, a date local leaders have already marked on their calendars.

Cedar Rapids Mayor Tiffany O'Donnell celebrated the latest progress in a Facebook post, writing: "NYE 2026. Book it! This. Is. Happening," alongside a photo capturing construction crews at work on-site.

A New Casino Amid a Shifting Market

Cedar Crossing arrives at a transitional moment for Iowa’s casino landscape. Iowa’s 19 existing casinos saw gross annual revenue slip for the third consecutive fiscal year. According to IRGC data, state-licensed casinos generated $1.68 billion in gross revenue for fiscal year 2025 — down from $1.72 billion the prior year.

However, the numbers still surpass pre-pandemic levels. For context, Iowa’s gross casino revenue in fiscal year 2019 — the last full year before COVID-19 — totaled about $1.46 billion.

Notably, these figures don’t include Iowa’s robust sports betting revenue, which continues to surge. Over the past fiscal year, Iowans wagered $2.85 billion on sports — topping the previous record of $2.6 billion — generating $240 million in receipts and contributing $16.2 million in taxes to the state. Since sports betting launched in Iowa in August 2019, licensed operators have reported nearly $900 million in cumulative receipts.

Building Cedar Crossing

The Cedar Crossing Casino will be a fully regulated, land-based casino and entertainment complex designed to expand local entertainment options and keep gaming revenue in-state. It will offer a range of table games, slot machines, dining, and event spaces designed to attract residents and visitors alike.

The project moved forward after Riverside Casino opted not to appeal a court ruling that upheld the IRGC’s February 2025 license approval for Cedar Crossing. That decision cleared the final legal hurdle, setting the stage for vertical construction this summer.

Local leaders and developers say Cedar Crossing will be more than a casino — it will anchor broader downtown revitalization efforts, support local jobs, and contribute to Linn County’s tax base through licensing fees and ongoing revenue share agreements.

Looking Ahead

With work now shifting from the ground up, project managers aim to keep the construction timeline on track for a New Year’s Eve 2026 opening — one city leaders hope will boost tourism and local entertainment spending as Iowa’s gaming industry adapts to new market trends.

Stay tuned for updates as crews continue to transform the Cedar Crossing site into Cedar Rapids’ newest gaming and entertainment hub.

Originally reported by Yogonet.