New casino may arrive at Des Moines

New casino may arrive at Des Moines

A company wants to develop a new casino and hotel at the Des Moines International Airport, with an investment worth US$225 million.

US.- Iowa may soon see its gaming landscape thanks to Highview Development Group. The company wants to build a casino and hotel at the Des Moines International Airport and would invest US$225 million there.

The group pitched the project to the Des Moines Airport Authority board last week. It showed a 350-room hotel connected to the airport by a skywalk. It would be “an unparalleled architectural masterpiece.” Moreover, they added it will “reflect the ‘highest and best use’ of airport facilities.”

The US$500 million terminal airport is US$194 million short in funding. Therefore, with the yearly US$85 million the casino would generate, Des Moines Airport would cover that expense.

Sports betting in Iowa

The Iowa Racing and Gaming Commission has released the financial results from December, where the market posted a 19.3% decline from November. Sports betting handle also declined by 0.1%.

While the percentage is lower than November’s, this is the lowest that Iowa has registered in a full month since it kicked off its sports betting operations. Sports betting handle was also different from the previous month, as it totalled a 0.1% decline but a successful month in winnings.

Revenue from online betting operations rose 20.5% to US$1.8 million and was bigger than retail. Sports betting handle from online operations was US$33.5 million, also a 0.6% decrease from November. Retail revenue fell 49% to US$1.1 million.

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