PENN Entertainment is set to commence construction on the Hollywood Casino Hotel Council Bluffs in Iowa on September 14, with plans to open the new land-based casino by 2028.
The gaming company has announced that the project, valued between $180 million and $200 million, will replace the nearby Ameristar Council Bluffs riverboat casino, pending the necessary regulatory approvals. The groundbreaking ceremony is scheduled for 10 a.m. CT.
The upcoming casino will feature around 1,000 slot machines and 25 live table games. Additionally, it will house two dining options: the first Shake Shack in the Omaha metropolitan area and Red Lotus, a fast-casual restaurant offering Asian cuisine and Southeast Asian specialties.
Hollywood Council Bluffs will connect seamlessly to the existing pavilion and hotel, granting direct access to over 160 hotel rooms, along with dining venues like 1853 Bistro and Steakhouse, The Sportsbook Restaurant and Bar, Club 38 VIP Lounge, and the Buffet.
Construction is projected to take between 18 to 24 months, creating approximately 450 construction jobs. PENN anticipates that around 50 new permanent positions will be available upon the casino's opening. Currently, the Ameristar Council Bluffs riverboat casino employs over 500 staff members.
“We are excited to celebrate this transition from riverboat gaming to a new premier entertainment destination,” stated Jay Snowden, CEO and President of PENN Entertainment. “With our recent announcement in New Orleans, we are committed to pursuing organic growth opportunities while enhancing PENN’s competitive edge in markets nationwide.”
Paul Czak, Vice President and General Manager of Hollywood Council Bluffs, emphasized that the groundbreaking is a significant milestone in developing a facility that will generate hundreds of jobs and broaden entertainment options for visitors.
Local officials and stakeholders, including representatives from the Iowa West Racing Association, are expected to attend the groundbreaking ceremony.
In Iowa, commercial gaming operators must maintain an operational agreement with a nonprofit Qualified Sponsoring Organization (QSO) to conduct gaming activities.
Hollywood Council Bluffs will be the 20th Hollywood-branded gaming venue in PENN’s portfolio and marks the third relocation of a land-based facility in recent years, following the openings of Hollywood Casino Joliet and Hollywood Casino Hotel Aurora in Illinois in 2025 and 2026, respectively.
PENN is also exploring a similar relocation and rebranding of its New Orleans riverboat operations, with the proposed Hollywood Casino New Orleans expected to open in 2029, contingent on regulatory approval.
For the Council Bluffs project, PENN can access up to $150 million in financing from Gaming and Leisure Properties at a 7.10% cap rate. This funding may be structured as either rent or as a five-year loan that can be repaid early without penalties.