Hollywood Casino Hotel Council Bluffs Breaks Ground on $200M Land-Based Resort

Hollywood Casino Hotel Council Bluffs in Iowa will break ground on Monday (Sept. 14). A rendering of Hollywood Casino Hotel Council Bluffs, a land-based investment from Penn Entertainment. The Iowa gaming venue will replace Ameristar Council Bluffs on the Missouri River. (Image: Penn Entertainment) Penn Entertainment is replacing its Ameristar Council Bluffs with a brick-and-mortar casino in the city that sits on the Missouri River across from Omaha. Thirty years after Ameristar opened as a riverboat, Penn officials say they’re investing $180 million to $200 million to create a land-based casino with more gaming and more dining. We are thrilled to be celebrating yet another transition from riverboat gaming to a new best-in-class entertainment destination,” said Jay Snowden, CEO and president of Penn Entertainment. Once the new casino is completed, Ameristar will be rebranded to Hollywood. The casino will include space for the first Shake Shack in the Omaha metropolitan area. A fast-casual Asian eatery called the Red Lotus is additionally included in the project. The land-based casino will feature 1,000 slot machines and 25 live dealer table games. The gaming venue will be connected to the existing 160-room hotel, The Sportsbook Restaurant and Bar, 1853 Bistro and Steakhouse, Club 38 VIP Lounge, and Buffet. Penn said the project will create 450 construction jobs and add 50 permanent jobs to the casino’s current staff of more than 500 employees. Construction is expected to take 18 to 24 months. Penn’s landlord, Gaming and Leisure Properties, Inc., is offering up to $150 million in financing at a capped rate of 7.1%. Penn has the option to pay the loan back in part of its rent or through a five-year loan that is prepayable at any time without penalty. Moving Inland Iowa legalized land-based casino gambling in 2007, three years after the state amended the 1989 riverboat law to allow commercial gambling on permanently moored barges. Of the 19 commercial casinos in Iowa, all but Lakeside Hotel Casino and Ameristar are land-based. The state’s forthcoming newest casino, Cedar Crossing Casino in Cedar Rapids, is a brick-and-mortar development that’s set to open in November. Penn Entertainment has invested in moving its riverboats inland not only in Iowa but also in other states where land-based casinos have been adopted, including in Louisiana and Illinois. “Coupled with our recent announcement in New Orleans, we continue to prioritize organic growth opportunities with a disciplined approach to strengthening Penn’s competitive position in our markets across the country,” said Snowden. Ameristar History Nevada-based Ameristar Casinos opened Ameristar Casino Council Bluffs in January 1996. Pinnacle Entertainment acquired the 38,500-square-foot riverboat when it purchased Ameristar Casinos in 2013. Penn Entertainment acquired Pinnacle in 2018 for $2.8 billion in cash and stock. The post Hollywood Casino Hotel Council Bluffs Breaks Ground on $200M Land-Based Resort appeared first on Casino.org.