Gaming group vows to give 8 percent of revenue if casino built
CEDAR RAPIDS — Not-for-profit organizations in the area would receive 8 percent of net revenue from any casino potentially developed in Linn County, under an agreement announced Wednesday between the Linn County Gaming Association and longtime partner Peninsula Pacific Entertainment.
The association, the group helping to rally support for passage of the Linn County gaming referendum on the Nov. 2 ballot, said it is looking to give local organizations a boost considering the financial challenges they have faced from the 2020 derecho and the ongoing COVID-19 pandemic.
Casino backers long have touted the role of gaming operations in attracting tourists and boosting the local economy. But Iowa law also requires that a certain percentage of gaming revenue be directed to a local nonprofit entity, called a “qualified sponsoring organization.”