Moving Penn's Council Bluffs Casino to Land: The Hollywood Casino Project
Iowa gets significant initiative from Penn, receiving acclaim
In the face of growing competition from Nebraska, Penn Entertainment plans to shift its Council Bluffs casino operations onto solid ground. The aging Ameristar Casino Hotel Council Bluffs riverboat will make way for the proposed Hollywood Casino Council Bluffs, following approval from the Iowa Racing & Gaming Commission in April 2025.
This $180 million-$200 million development will see up to $150 million funded by Gaming & Leisure Properties, with construction expected to take 18-24 months after groundbreaking. By moving from river to land, Penn aims to boost its Council Bluffs location's competitiveness in the greater Omaha market.
Set across 125,000 square feet, the reimagined Hollywood Casino Council Bluffs will boast a 58,000 square foot gaming floor, far larger than the current riverboat's tri-level setup. Other existing facilities, such as dining venues, the 160-room hotel, and the ESPN Bet-branded sportsbook will remain unchanged.
Penn's Executive Vice President of Operations, Todd George, stated, "This project will enhance the quality and efficiency of our Council Bluffs location and significantly improve the property's competitive positioning in the greater Omaha market." Iowa West Racing Association CEO Brenda Mainwaring echoed these sentiments, expressing gratitude for Penn's continued investment in the area.
The shift to a land-based facility is one of several moves in the Midwest gaming industry aiming to reduce costs associated with riverboat operations, mitigate flood risks, and adapt to changing regulations. This project is expected to create jobs and generate tax revenue, further supporting the Council Bluffs economy.
In summary, the Hollywood Casino Council Bluffs project signifies Penn Entertainment's commitment to modernizing its operations and positioning Council Bluffs as a formidable player in the evolving regional gaming landscape.
- Penn Entertainment, in light of competition from Nebraska, announced plans to move its Council Bluffs casino operations from a riverboat to solid land, almost completing the Hollywood Casino Council Bluffs project.
- The prerequisite for this $180 million-$200 million endeavor is approval from the Iowa Racing & Gaming Commission set for April 2025.
- Gaming & Leisure Properties will contribute up to $150 million towards the project, with construction anticipated to take 18-24 months after groundbreaking.
- The reimagined Hollywood Casino Council Bluffs, spread over 125,000 square feet, will feature a larger gaming floor of 58,000 square feet, making it more competitive in the greater Omaha market.
- The project will include remaining facilities such as dining venues, the 160-room hotel, and the ESPN Bet-branded sportsbook, but with enhanced quality and efficiency.
- The shift towards a land-based facility is a part of various moves in the Midwest gaming industry, aimed at cutting costs, reducing flood risks, and adapting to changing regulations.
- This endeavor is expected to generate jobs, tax revenue, and foster long-term growth within the Council Bluffs economy, backed by both Penn Entertainment and the Iowa West Racing Association.
- The broader casino and gambling industry, including fintech and real-estate sectors, will observe the progress of this project as part of the ongoing commercial evolution of Las Vegas-style casino culture in the region.
- Moreover, this project signifies Penn Entertainment's dedication to keeping pace with the evolving casino-games and sports betting landscape, positioning Council Bluffs as a significant player in the Midwest's entertainment and banking-and-insurance industry.
