PENN Entertainment has broken ground on a new land-based casino and hotel in Council Bluffs, Iowa, with an estimated price tag of $180 million to $200 million. The company says the Hollywood Casino Hotel Council Bluffs will open in 2028 and will replace its Ameristar Council Bluffs riverboat casino. The development is expected to include about 1,000 slots, 25 live table games and what the company describes as the Omaha area's first Shake Shack. It is the latest step in PENN's push to move riverboat venues onto land.
Groundbreaking and opening target
On Monday, 14 September 2026, PENN held a ceremony at 10 a.m. central time, according to a company announcement. The new venue would become the 20th Hollywood-branded gaming property in PENN's portfolio, the company said, with an opening planned for 2028, subject to the usual regulatory approvals.
Replacing the Ameristar riverboat
The land-based development will take over from the nearby Ameristar Council Bluffs riverboat once construction is complete. Casino.org reported that Ameristar opened in Council Bluffs in January 1996 and came under PENN control after its 2018 purchase of Pinnacle Entertainment. Paul Czak, vice president and general manager, told KETV that the current building has 30-year-old escalators and lifts, and that the replacement would be arranged on one floor to make movement easier for visitors.
Gaming, hotel and dining
According to the operator, the new casino will feature roughly 1,000 slot machines and 25 live dealer table games. It will connect to the existing hotel and pavilion, with direct access to more than 160 rooms and venues such as 1853 Bistro and Steakhouse, The Sportsbook Restaurant and Bar, Club 38 VIP Lounge and the buffet. The project also adds two new dining outlets: the first Shake Shack in the Omaha area and Red Lotus, a fast casual restaurant serving Asian choices including noodle dishes. KETV noted that the one-level design will allow separate high-limit areas for slot machines and table games.
Jobs and construction
PENN said the existing riverboat casino currently employs more than 500 staff. The company expects building work to last between 18 and 24 months and to create around 450 construction positions. It also anticipates 50 additional permanent roles when the new Hollywood property opens. Czak said the ceremony marked an important milestone and that the completion would bring hundreds of jobs and a stronger guest experience.
Financing and expansion strategy
PENN is entitled to arrange up to $150 million in project funding from Gaming and Leisure Properties at a 7.10% cap rate. That funding can be structured as rent or as a five-year loan that is pre-payable at any time without penalty. Jay Snowden, PENN's chief executive and president, said the company is prioritising organic growth opportunities and taking a disciplined approach to strengthening its market position. Council Bluffs is PENN's third move from riverboat to land in recent years, following Hollywood Casino Joliet in 2025 and Hollywood Casino Hotel Aurora in Illinois in 2026. The company has also proposed relocating and rebranding its New Orleans riverboat operation, with a target opening for that site in 2029.
Iowa market and regulatory context
Casino.org reported that land-based casino gambling has been permitted in Iowa since 2007. At the time of its report, only Lakeside Hotel Casino and Ameristar among the state's 19 commercial casinos were not land-based. Cedar Crossing Casino in Cedar Rapids, another brick-and-mortar development, is expected to open in November. State rules require every commercial operator to have an agreement with a nonprofit Qualified Sponsoring Organization. The groundbreaking was expected to be attended by representatives of Iowa West Racing Association, which is the property's nonprofit partner.
