New Hollywood Casino to Debut in Iowa, operated by Penn Entertainment
Hear ye, hear ye! It's time to embark on an exciting new chapter in the world of gambling as PENN Entertainment announces a whopping $180-$200 million undertaking to shift its riverboat casino Ameristar Casino Hotel Council Bluffs from its watery abode to posh land-based real estate. This swanky new spot will thus be known as Hollywood Casino Council Bluffs!
The Iowa Racing and Gaming Commission has given the thumbs-up to this grand shift, along with a 15-year extension to Ameristar's partnership with Qualified Sponsoring Organization, the Iowa West Racing Association.
Let the Games Begin!
Sports enthusiasts, get ready to place your bets, for the new Hollywood Casino Council Bluffs is slated to flaunt an ESPN BET sportsbook! This lavish casino will boast around 58,000 square feet of gaming space, accommodating well over 1,000 gaming positions, just waiting for you to spin those reels or roll those dice!
The revamped casino will occupy around 125,000 square feet, providing a substantial leap from the riverboat layout. Furthermore, the land-based casino will not only include the alluring ESPN Bet sportsbook but will also offer a 160-room hotel, and a myriad of delectable dining options, making your gaming experience a never-before adventure!
Farewell to the Riverboat, Hello Hollywood!
As we bid adieu to Ameristar Casino Hotel Council Bluffs riverboat casino's three-tier setup, we welcome the convenience of a single-level gaming haven. Say hello to an easier and more efficient gaming experience for all!
Brenda Mainwaring, President & CEO of the Iowa West Racing Association, shares her enthusiasm for the development, "For nearly thirty years, the Ameristar riverboat has been about dining, entertainment, jobs and millions of dollars in support of our community. PENN's commitment to reinvesting in Council Bluffs is laudable and we are grateful for our ongoing partnership."
Construction on this glitzy new facility is projected to commence in the next 18-24 months, pending design and permit approvals. The project's financing will be procured by Gaming and Leisure Properties, Inc.
Hollywood Casino Council Bluffs may receive as much as $150 million, which can be structured as either rent or a five-year term loan, making it convenient for PENN to manage its expenses.
So buckle up, folks! This is just the beginning of the Hollywood Casino Council Bluffs saga, and we can't wait to see what lies ahead in the vibrant world of gambling!
- The upcoming Hollywood Casino Council Bluffs, with a $180-$200 million makeover, is set to part company with its riverboat footprint, moving to a posh land-based location.
- The revamped casino, slated to open in the next 18-24 months, will feature a single-level gaming haven, accommodating around 1,000 casino-games and an ESPN BET sportsbook.
- Alongside 160 luxurious rooms and multiple dining options, the new casino-and-gambling center will provide roughly 58,000 square feet of gaming space.
- The Iowa Racing and Gaming Commission has endorsed this transition, granting a 15-year extension to Ameristar's partnership with the Iowa West Racing Association.
- PENN Entertainment operators are thrilled about this move, as brevity and efficiency will enhance the casino culture in Las Vegas-style, courtesy of Hollywood Casino Council Bluffs.
