Most of it depends on the depth of the dado itself. I have done it both ways and generally prefer to cut the dado first, laminate over it and then trim it back. The only really good reason not to do it this way is if the dado is too shallow. You have to have enough bearing surface on the sides for the bit to cut, yet still ride the side.
I would rather do the dado first for two good reasons. First is simply as insurance against screw-ups. If there is a problem with cutting the dado (router moving away from straight edge, board moving from fence, etc.) you can still fix it. Fill the cut and re-cut it. The other is chipping. If you cut the dado with a table saw, there is a very real possibility of chipping the laminate. If it is done after, no problem. Doing the dado with a router can do this too. Down spiral bits are far better for this, but they are notoriously hard to use in this type of cut. The cut gets bound up with debris, because of the cutting action.
If you do the dado first, do yourself a favor and cut a filler piece for the dado while you apply the contact cement, especially if spraying. It will be a lot easier to not have glue overspray in the groove while routing the laminate away later.