Penn Entertainment has announced the commencement of construction on a new gaming facility, Hollywood Casino, in the state of Iowa
The new complex will be situated adjacent to the Ameristar Casino Hotel and will cover approximately 125,000 square feet, with the gaming area alone spanning 58,000 square feet. The development will include a 160-room hotel, restaurants, and an ESPN BET sportsbook. All operations will be consolidated onto a single floor, which the company says will streamline logistics and enhance the customer experience.
The decision to move away from the riverboat casino format is driven by increasing competition, particularly from new gaming establishments that have opened in neighboring Nebraska. According to Todd George, Executive Vice President of Penn Entertainment, this project represents a strategic shift aimed at strengthening the company’s presence in Iowa and modernizing its assets.
Funding for the new casino will be partially secured through investments from Gaming and Leisure Properties Inc., which is expected to provide around $150 million in the form of a lease or a repayable loan over five years at an interest rate of 7.1%.
Brenda Mainwaring, President of the Iowa West Racing Association, expressed gratitude to Penn Entertainment for its contribution to regional development. She noted that the project will help maintain the tradition of social support established during the operation of the riverboat casino, which opened in 1996.
The transition from the Ameristar brand to Hollywood Casino Council Bluffs reflects a broader trend within Penn Entertainment, as the company gradually shifts away from outdated riverboat formats in favor of modern land-based venues. This decision is aimed at maintaining competitiveness in the Midwest gaming market.
Notably, Penn Entertainment has also entered into a deal with a developer of robotic security guards.
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