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Hollywood Casino Hotel Council Bluffs: A $200M Land-Based Resort Breaks Ground – Comprehensive Guide

By jili tutorial · September 11, 2026

Hollywood Casino Hotel Council Bluffs: A $200M Land-Based Resort Breaks Ground – Comprehensive Guide

Overview of the Project

On Monday, September 14, Penn Entertainment officially broke ground on a major new development in Council Bluffs, Iowa. The Hollywood Casino Hotel Council Bluffs represents a $180 million to $200 million investment that will replace the existing Ameristar Council Bluffs riverboat casino. This transition marks a significant shift from the historic riverboat gambling model to a modern, land-based entertainment destination, reflecting broader regulatory and market trends across the United States.

The project is expected to take 18 to 24 months to complete. Once finished, the new casino will rebrand under the Hollywood name, aligning with Penn Entertainment’s national portfolio. The development signals a long-term commitment to the Council Bluffs market, which sits on the Missouri River directly across from Omaha, Nebraska.

Why Move from Riverboat to Land-Based?

The Evolution of Iowa’s Gambling Laws

Iowa legalized commercial gambling in 1989 under a riverboat law that required casinos to operate on vessels that could actually cruise. However, in 2004, the state amended the law to allow gambling on permanently moored barges. Three years later, in 2007, Iowa fully legalized land-based casino gambling, enabling brick-and-mortar resorts without any water requirement.

Of the 19 commercial casinos currently operating in Iowa, all but two—Lakeside Hotel Casino and Ameristar—are now land-based. This shift has allowed operators to build larger facilities with more amenities, improved accessibility, and better operational efficiency. The upcoming Cedar Crossing Casino in Cedar Rapids, set to open in November, is another example of this inland movement.

Operational and Customer Benefits

Land-based casinos offer several advantages over riverboats:

Detailed Components of the New Resort

Gaming Floor

The new Hollywood Casino will feature 1,000 slot machines and 25 live dealer table games. This represents a significant expansion over the current Ameristar riverboat’s capacity, though specific square footage comparisons were not disclosed. The gaming floor will be designed with open sightlines, modern lighting, and player-friendly layouts consistent with Penn’s Hollywood brand standards.

Dining and Hospitality

The resort will include several new food and beverage outlets:

The existing hotel, which has 160 rooms, will be connected to the new casino. Current on-site amenities that remain include:

These facilities will continue to operate during construction and will be integrated into the final resort design.

Economic Impact and Job Creation

Penn Entertainment estimates the project will generate 450 construction jobs during the building phase. Once operational, the casino will add 50 permanent positions to its current workforce of more than 500 employees. This growth supports the local economy and reflects Penn’s confidence in the Council Bluffs market.

The company also emphasized its commitment to community engagement, though specific details on local sourcing or supplier partnerships were not provided in the announcement.

Financing and Partnership with Gaming and Leisure Properties

Penn Entertainment’s landlord for the property is Gaming and Leisure Properties, Inc. (GLPI), a real estate investment trust that owns the underlying land and buildings of many Penn-operated casinos. Under the financing arrangement, GLPI is offering up to $150 million to Penn at a capped interest rate of 7.1%.

Penn has flexible repayment options:

This structure allows Penn to manage cash flow while investing in the new development. It also underscores the close relationship between casino operators and REITs in the gaming industry.

Regulatory Context in Iowa and Across the Nation

Iowa’s Commercial Casino Landscape

Iowa’s gambling regulatory framework is overseen by the Iowa Racing and Gaming Commission. All commercial casinos must obtain licenses and adhere to strict operational standards. The move inland in 2007 opened the door for larger, more integrated resorts. Today, the state boasts 19 commercial casinos, plus tribal gaming facilities and a state-run lottery.

The Cedar Crossing Casino in Cedar Rapids (set to open this November) further demonstrates Iowa’s appetite for new land-based developments, though some regional competition exists among operators.

Penn’s National Strategy for Riverboat Conversions

Penn Entertainment has been systematically moving its riverboat casinos inland in multiple states. Beyond Iowa, the company has undertaken similar projects in:

Most recently, Penn announced a comparable development in New Orleans, reinforcing CEO Jay Snowden’s statement: “Coupled with our recent announcement in New Orleans, we continue to prioritize organic growth opportunities with a disciplined approach to strengthening Penn’s competitive position in our markets across the country.”

Historical Timeline of Ameristar Council Bluffs

The site has a rich history in regional gaming:

Now, with the groundbreaking of the land-based Hollywood Casino, the site will enter a new chapter. The existing riverboat will be retired, and the brand will shift from Ameristar to Hollywood.

What This Means for the Omaha-Council Bluffs Market

The new resort is strategically positioned to draw customers from across the Missouri River in Omaha, Nebraska, as well as from western Iowa. The addition of Shake Shack and Red Lotus enhances dining options that currently exist in the area. The expanded gaming floor should also help Penn compete with other regional casinos, including those in neighboring states.

Local tourism officials expect the project to boost overnight stays, given the 160-room hotel, and to attract convention and event business thanks to the upgraded facilities.

Conclusion

The Hollywood Casino Hotel Council Bluffs groundbreaking represents a major milestone in the evolution of Iowa’s gambling industry. By replacing a riverboat with a land-based resort, Penn Entertainment is betting on the long-term viability of the market while providing new jobs, dining, and entertainment options. With a $200 million budget, flexible financing, and 18–24 months of construction ahead, the project is a clear signal that brick-and-mortar casinos remain a core part of Penn’s growth strategy.