PENN Entertainment has launched a major redevelopment project in Council Bluffs, Iowa, marking the next step in its strategy of replacing riverboat casinos with land-based gaming destinations.

The company has announced a groundbreaking ceremony for Hollywood Casino Hotel Council Bluffs, a new casino complex that will take the place of the existing Ameristar Council Bluffs riverboat operation. The project carries an estimated price tag of between $180 million and $200 million and is expected to open in 2028, subject to regulatory approvals.

Located along the Missouri River across from Omaha, Nebraska, the development will transform one of Iowa’s remaining riverboat casinos into a permanent land-based facility. Once complete, the venue will become PENN Entertainment’s 20th Hollywood-branded property.

“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.”

New Casino to Add Dining and Gaming Capacity

The planned Hollywood Casino Hotel Council Bluffs will house approximately 1,000 slot machines and 25 live table games. PENN also plans to introduce two new food and beverage concepts as part of the development.

Among them will be the first Shake Shack location in the Omaha metropolitan area. The property will also feature Red Lotus, a fast-casual restaurant serving made-to-order Asian dishes, noodle offerings and Southeast Asian specialties.

The casino will connect directly to the existing hotel and entertainment facilities, giving guests access to more than 160 hotel rooms as well as established amenities including 1853 Bistro and Steakhouse, The Sportsbook Restaurant and Bar, Club 38 VIP Lounge and the property’s buffet.

Construction is expected to take between 18 and 24 months. During that period, the existing riverboat casino will continue operating, allowing gaming activity to continue while the new facility is built. Once the project is completed, the riverboat operation will be retired.

Additional design details released in connection with the project indicate the new venue will feature a two-level layout, a covered guest drop-off area and expanded parking facilities. The land-based design is intended to modernize the guest experience while maintaining links to the current hotel infrastructure.

Jobs and Regional Investment

PENN estimates that construction will generate approximately 450 jobs. The company also expects the completed property to support around 50 new permanent positions in addition to the more than 500 employees currently working at the Council Bluffs operation.

Paul Czak, Vice President and General Manager of Hollywood Council Bluffs, described the groundbreaking as an important step for the property and the surrounding community.

“We are incredibly excited for the future of Hollywood Casino Hotel Council Bluffs. This groundbreaking is a significant milestone on the road to a beautiful new facility that will create hundreds of jobs in the community and provide our guests with an even greater entertainment experience.”

Local officials, community representatives and stakeholders are expected to participate in the groundbreaking event, including members of the Iowa West Racing Association. The organization serves as the property’s nonprofit partner. Iowa law requires commercial gaming operators to maintain agreements with qualified nonprofit sponsoring organizations in order to conduct casino operations.

The project is also expected to support tourism in the Council Bluffs area by introducing a larger entertainment venue while continuing to draw visitors from neighboring Nebraska and the wider Midwest region.

Part of PENN’s Broader Landside Strategy

The Council Bluffs project represents another example of PENN’s efforts to relocate riverboat gaming operations onto land where regulations permit. Iowa amended its gaming laws years ago to allow casinos to move away from traditional riverboat formats, and most of the state’s commercial casinos now operate as land-based venues.

Hollywood Council Bluffs will become PENN’s third landside relocation completed in recent years. The company previously opened Hollywood Casino Joliet and Hollywood Casino Hotel Aurora in Illinois during 2025 and 2026.

The Iowa development follows another major announcement from PENN involving its Louisiana operations. The company recently unveiled plans to relocate and rebrand its New Orleans riverboat property into Hollywood Casino New Orleans, a project expected to open in 2029 pending regulatory approval.

To help fund the Council Bluffs redevelopment, Gaming and Leisure Properties Inc. (GLPI), PENN’s real estate partner and landlord, has committed financing of up to $150 million at a capped rate of 7.10%. PENN may structure the funding either as rent or as a five-year loan that can be repaid early without penalty.

The Council Bluffs property has changed ownership several times since opening as Ameristar Casino Council Bluffs in January 1996. Nevada-based Ameristar Casinos developed the original venue before Pinnacle Entertainment acquired the company in 2013. PENN Entertainment later purchased Pinnacle Entertainment in 2018 through a transaction valued at $2.8 billion in cash and stock.