Top Online Casino PH

Blog

Cedar Crossing Casino could bring millions in revenue to nonprofits


CEDAR RAPIDS, Iowa (KCRG) – For months, the Linn County Gaming Association has worked to bring the Cedar Crossing casino to the area. But in a news conference Thursday, they announced in addition to bringing millions in revenue to the city, it could also help out nonprofits across the state.

In Iowa, every casino in the state is required to give three percent of its adjusted gross revenue to nonprofits.

But the leaders behind the Cedar Crossing Casino announced that they’ve pledged to give 8 percent instead.

Anne Parmley the Board President of the Linn County Gaming Association, says it’s a way to offset the increased need for funding and resources local nonprofits have seen since the pandemic.

When asked about whether or not this casino could bring some negatives – such an increased rate of gambling addiction – to the area, she said she wasn’t concerned.

“It is a very low percentage, much lower than I even expected it to be. So, we’re really focused on the benefits of the nonprofits and helping folks who have needs in our community. And so I see that as just a great opportunity.” she said.

But according to a 2016 study from the National Library of Medicine, the chance that someone develops problematic gambling habits increases if they live close to one or more casinos.

She expects roughly 80 million dollars in new revenue for the state.

It’s unclear how the 8 percent will be divided across nonprofits.

Though, Kristin Roberts, CEO of United Way of East Central Iowa, says that money could make a big difference.

“There’s not as much funding when it comes to paying for people and operations. So, when it comes to our nonprofit Community to be able to pay for those operations, that’s one of the areas that is really needed.” she said.

The next steps for casino planners is a site visit from the Iowa Racing and Gaming Commission.

The Commission will then provide an opportunity for public comment and review the application, as well as take into consideration market studies about a Cedar Rapids casino’s impact on other gaming businesses.

The Commission will make a final decision, which we won’t know until February 2nd.



Source link