By Dave Franzman KCRG TV9 |
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Posted: Tue 5:40 PM, Sep 26, 2017
CEDAR RAPIDS, Iowa (KCRG TV9)- Supporters of three bank proposals in Cedar Rapids fabricated a angle for their affairs on Tuesday. And it all happened during a abounding day of visiting by the bristles associates of the Iowa Racing and Gaming Commission.
Two of the proposals appear from the Cedar Rapids Development Group. That accumulation is casting a baby bank area the Bristles Seasons parking access currently sits abreast the U. S. Cellular Center. The accumulation is additionally re-submitting a angle alleged Cedar River Crossing that the agency alone in 2014.
Developer Wild Rose is casting a third bank option. That would be a alleged “boutique” bank to go up on First Avenue southeast.
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Commissioners started the day with a bout of all the sites which didn’t booty long.
All bristles had apparent the aboriginal Cedar Crossing angle before. The agency spent added time attractive at the scaled bottomward Cedar Crossing Central and the Wild Rose site.
Adam Covington, buyer of EastBank Venue, says the Wild Rose angle would apparently do him the best acceptable because developers advisedly bound dining options to drive business elsewhere.
“They don’t accept the accessories for bodies to alcohol if they appetite to or eat if they appetite to. Bodies will leave to do those things and they’ll go to abutting aperture adjacency confined and restaurants about the casino,” he said.
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At the accessible animadversion allocation of the visit, a few bodies batten out adjoin bank in general. Others wore accouterment touting a specific project.
And assembly of added casinos told commissioners Iowa’s gaming bazaar is already full. Dan Kehl with Riverside Bank and Resort gave some specifics.
“The basal band is a bank in Cedar Rapids whether bazaar or abounding calibration would amount Riverside about $18 to $24-million of revenue. That’s amid 26 and 34 percent,” he said.
But Cedar Rapids Ambassador Ron Corbett had a response.
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“And best of the absolute operators are still singing the dejection about approaching competition. But what addled me as I was alert to anniversary one of them talking about their challenges. I accept to admiration if the alarm has swung so far to assure the industry that it’s absolutely aching the industry,” the ambassador said.
Supporters of all three bank projects say that’s one of their arguments.
Iowa’s gaming acquirement has backward changeless for several years.
They say it may be account a few absolute casinos accident some of their business to get the absolute gaming industry in Iowa growing again.
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The all-important abstraction of the appulse of a Cedar Rapids bank authorization on competitors should be accessible abutting week.
Commission associates will agitation the abstraction in October and booty a vote on a Cedar Rapids authorization November 16th.
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