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PENN Sets for $180M–$200M Hollywood Casino in Iowa

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Altay
Altay Celikkaya
Content Manager
Updated:
Reading Time: 2 minutes

PENN Entertainment has scheduled a September 14 at 10 a.m. Central Time for Hollywood Casino Hotel Council Bluffs. The land-based casino will replace the nearby Ameristar riverboat. It is expected to open in 2028, subject to customary regulatory approvals, according to PENN’s announcement.

The project has an estimated budget of $180 million to $200 million. It creates a sizeable development pipeline for suppliers, local contractors and hospitality partners in the Omaha-area gaming market while retaining the existing hotel and entertainment infrastructure. For B2B stakeholders, construction could also influence equipment procurement, hospitality partnerships and staffing.

PENN Entertainment logo displayed on a dark blue gradient background with subtle geometric patterns.

Industry News

Key Takeaways From PENN’s Council Bluffs Casino Project

  • PENN has scheduled the Hollywood Casino Hotel Council Bluffs for September 14, 2026.

  • The land-based project is expected to cost $180 million to $200 million and open in 2028, subject to approvals.

  • Plans call for approximately 1,000 slot machines, 25 live table games and two new dining options.

  • Construction is expected to take 18 to 24 months, support around 450 construction jobs and add about 50 permanent positions after opening.

What the New Casino Will Include

Hollywood Council Bluffs will be PENN’s twentieth Hollywood-branded gaming property. Its planned gaming floor will combine slots and table games with the first Shake Shack in the Omaha metropolitan area and Red Lotus, a fast-casual Asian restaurant. The facility will connect directly to the existing pavilion and hotel, giving guests access to more than 160 rooms, established dining venues and the sportsbook.

That reuse of existing amenities matters commercially. It allows PENN to refresh the gaming product and add food options without rebuilding every component of the destination. The adjacent Ameristar riverboat, which currently employs more than 500 people, is expected to be replaced when the new casino is completed.

Paul Czak, vice president and general manager of Hollywood Council Bluffs, said:

We are incredibly excited for the future of Hollywood Casino Hotel Council Bluffs.

PENN’s Land-Based Casino Strategy

The Council Bluffs development follows PENN’s recent riverboat-to-land relocations in Joliet and Aurora, Illinois. It also sits alongside a proposed New Orleans relocation. The sequence points to a strategy of modernising regional casino floors while retaining established customer bases.

Financing remains another consideration for investors. PENN can seek up to $150 million for the Council Bluffs project from Gaming and Leisure Properties, structured as rent or a five-year loan under the terms disclosed by the company.

The timing comes as US gaming executives report continued interest in capital investment. Separately, second-quarter 2026 industry figures show traditional casino revenue rising 4.5% year on year, giving operators a supportive national backdrop, though not a forecast for this property.

PENN’s emphasis on physical venues also connects with the Illinois debate over online casinos, where its existing bricks-and-mortar investments have featured in discussions about jobs and market competition. In Council Bluffs, the next milestones will be construction progress, regulatory clearance and the planned 2028 opening.