Economist Says IRGC Made Correct Decision on Cedar Rapids Casino
CEDAR RAPIDS, Iowa - A Creighton University economics professor said the Iowa Racing and Gaming Commission was correct in rejecting a casino for Cedar Rapids. And he said the city's location makes it a tough sell.
Ernie Goss appeared on the Iowa Public TV program Iowa Press Friday. He's the co-author of a book on the economics of casino gambling in the U.S.
Goss said a high proportion of casinos across the U.S. sit along a state's border.
"There's a reason why. It's because you can pull from residents in other states. Here you're talking about, in Cedar Rapids' case, in the middle of the state. So how much you're going to draw off from other states is going to be limited in that location," Goss said. He said any new casino opening in Iowa would cannibalize some activity from another casino.
The Racing and Gaming commissioners Thursday voted four to one against a gaming license for a Cedar Rapids casino.
They said they based that decision largely on the effect the Cedar Rapids facility would likely have on other casinos, especially the one at Riverside.