CBS 2 - Search Results
Study Shows Impact of CR Casino
CEDAR RAPIDS, Iowa (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.
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.
Copyright 2014 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.