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June 22, 2022Cedar Rapids, Iowa | By: AP
CEDAR RAPIDS, Iowa (AP) - Iowa Gov. Kim Reynolds has signed into law a measure that places a two-year moratorium on new casino licenses - a move the mayor of Cedar Rapids calls "disappointing."
The Cedar Rapids Gazette reports that an amendment to a larger gambling bill means regulators cannot issue any new licenses in Iowa until June 2024. Reynolds signed the bill Friday.
The moratorium puts on hold plans for a potential $250 million, 160,000 square-foot entertainment and cultural arts complex at the site of now-demolished Cooper's Mill near downtown Cedar Rapids.
The Republican-led Iowa Legislature this year approved the two-year moratorium on new casinos, citing "gambling fatigue."
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