PENN Entertainment will break ground on its future Hollywood Casino Hotel Council Bluffs in Iowa on 14 September, with the new land-based casino expected to open in 2028.
The US gaming company said the $180 million to $200 million project will replace its adjacent Ameristar Council Bluffs riverboat casino, subject to customary regulatory approvals. The groundbreaking ceremony is set at 10 a.m. CT.
The new casino will feature approximately 1,000 slot machines and 25 live table games. It will also include two dining outlets: the first Shake Shack in the Omaha metropolitan area and Red Lotus, a fast-casual restaurant serving Asian cuisine, noodle dishes and Southeast Asian specialties.
Hollywood Council Bluffs will connect to the existing pavilion and hotel, providing direct access to more than 160 hotel rooms, 1853 Bistro and Steakhouse, The Sportsbook Restaurant and Bar, Club 38 VIP Lounge and the Buffet.
Construction is expected to take 18 to 24 months and create about 450 construction jobs. PENN expects around 50 new permanent positions to be available when the casino opens. The existing Ameristar Council Bluffs riverboat casino currently employs more than 500 team members.
“We are thrilled to be celebrating yet another transition from riverboat gaming to a new best-in-class entertainment destination,” said Jay Snowden, CEO and President of PENN Entertainment. “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.”
Paul Czak, Vice President and General Manager of Hollywood Council Bluffs, said the groundbreaking marks an important step towards developing a new facility that will create hundreds of jobs and expand the entertainment offering for guests.
Local officials and stakeholders are expected to attend the groundbreaking, including representatives from the Iowa West Racing Association, the property’s nonprofit partner.
Iowa requires commercial gaming operators to maintain an operating agreement with a nonprofit Qualified Sponsoring Organization (QSO) to conduct gaming operations.
Hollywood Council Bluffs will become the 20th Hollywood-branded gaming facility in PENN’s portfolio and its third landside relocation in recent years. The company previously opened Hollywood Casino Joliet and Hollywood Casino Hotel Aurora in Illinois in 2025 and 2026, respectively.
PENN is also pursuing a similar relocation and rebranding of its New Orleans riverboat operations. The proposed Hollywood Casino New Orleans is slated to open in 2029, subject to regulatory approval.
For the Council Bluffs project, PENN can secure up to $150 million in financing from Gaming and Leisure Properties at a 7.10% cap rate. The funding can be structured either as rent or as a five-year loan that can be repaid early without a penalty.