The Racing and Gaming Commission heard reports Thursday on two recently completed market surveys that detailed the impact of a new casino in Cedar Rapids.

The survey by Spectrum Gaming says it appears that Cedar Rapids is well served by casinos in Waterloo and Riverside and a Cedar Rapids casino could significantly impact those two properties.

The study by the Innovation Group shows existing casinos would lose 30% of their revenue from a new Cedar Rapids casino. Innovation spokesman Thom Litt says looking across the country it has been rare to see anything more than a 30% impact.

That impact would be $61 million on the Waterloo and Riverside casinos – but the survey says overall revenue in Iowa is estimated to increase by $51 million with the addition of a Cedar Rapids casino to the market.