DES MOINES, Iowa (AP) - Consultants hired by the Iowa Racing and Gaming Commission to analyze the saturation level of gambling in Iowa say new casinos proposed for Cedar Rapids and Jefferson would get most of their money by sucking revenue from already existing casinos.
The Des Moines Register reports (http://dmreg.co/1bKb8tQ ) Union Gaming Analytics and Marquette Advisors were hired to conduct independent evaluations of gambling in Iowa, which has 18 state-regulated casinos.
The studies were designed to help commissioners decide whether to approve a proposed $165 million Cedar Rapids casino and a $40 million complex in Jefferson.
The reports, released Tuesday, say casinos in Riverside, Altoona, and Emmetsburg would lose millions of dollars to the new ones.
The companies proposing new casinos say they remain confident the impact on existing casinos would be insignificant.
Information from: The Des Moines Register, http://www.desmoinesregister.com
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