Casino industry grows in Iowa
The Racing and Gaming Commission renewed 19 state regulated casino licences as their economic impact continues to grow.
US.- The gaming industry is one of the top contributors for state coffers all around the globe and Iowa is set to continue taking advantage from it. The Iowa Racing and Gaming Commission (IRGC) announced it renewed the 19 state regulated casinos’ licences in order to keep its benefits.
“No issues this year as it relates to any of the license renewals,” Racing and Gaming administrator, Brian Ohorilko said. He also explained the impact of the industry increased in Iowa this year: “I think many times people look at just the tax revenue, but when you factor in payroll, salaries, other expenditures that maybe don’t meet the reportable requirement and commission rules — that overall economic impact on the state of Iowa is over one billion dollars,” he explained.
Wes Ehrecke, the Iowa Gaming Association president, stated: “To be a catalyst for economic development, to generate tourism dollars and generate great jobs. And you think now to today as you look at this – over one billion dollar annual economic impact for those wages, for that Buy Iowa First program that’s over 240 some million, as well as the charitable contributions — over 90 million — we have paid for a lot of visionary things.”
According to Mr. Ehrecke, the industry’s impact grew as wages “were up about US$10 million” and “gaming tax about US$4.7 million.” He also explained that charitable contributions reached US$400k, better than the year before.
