A state commission has approved the license for a proposed casino in Cedar Rapids.

The Iowa Gaming and Racing Commission this morning approved the license for the proposed Cedar Crossing Casino and Entertainment Center on a 4-1 vote. Project leaders told reporters after the meeting that they plan to break ground on the $275 million project as soon as Friday, Feb. 7.

Peninsula Pacific Entertainment (P2E) and Linn County Gaming Association applied last year for a gaming license for the facility and stated they expected the casino to add an additional $60 million in net gaming revenue for the state each year.

The third time proved to be the charm, as the commission previously had rejected two proposals — one in 2014 and another in 2017 — to bring a casino to Cedar Rapids. Per P2E officials, construction is expected to take between 18 and 22 months.

Today’s approval came despite opposition from some legislators and local leaders across the state — including several from Dubuque — who expressed concerns that new casino would be a detriment to existing Iowa facilities.

In the fall, a study funded by P2E predicted that the new Cedar Rapids casino would lead to a 11.6% revenue hit for Riverside Casino & Golf Resort in Riverside, Iowa, while Isle Waterloo and Dubuque casinos would see 5.8% and 3.6% reductions, respectively.

A bill that would have effectively blocked the new casino passed through the Iowa House of Representatives last week before stalling in the Senate. If passed, the bill would have set a five year moratorium on all new casinos.