Iowa casino gaming revenue reaches $133.1m in October
Casino revenue dropped 2 per cent year-on-year.
US.- The Iowa Racing and Gaming Commission (IRGC) has reported that the state’s 19 land-based casinos generated combined revenue of $133.1m in October. The figure was down 2 per cent compared to October 2023, with declines in both slots and table games revenue.
There were 14,101 slot machines in operation, resulting in revenue of $120.4m. That was down 3 per cent year-on-year. Meanwhile, 435 table games generated $12.7m.
The top five casinos for revenue were Prairie Meadows Racetrack and Casino with $18.8m; Horseshoe Casino Council Bluffs with $13.7m; Ameristar II with $13.5m; Riverside Casino and Golf Resort with $10.4m and Diamond Jo (Worth) with $8.5m. Tax revenue was $25.7m.
Cedar Rapids casino proposal
Existing casinos in Iowa have expressed concerns about the proposed Cedar Rapids casino. The Cedar Rapids Development Group (CRDG) and the Linn County Gaming Association formally presented their $275m investment blueprint to the Iowa Racing and Gaming Commission recently.
Alex Dixon, president and CEO of Q Casino, said allowing a casino in Cedar Rapids would hurt his Dubuque business as well as casinos in Riverside and Waterloo. Boyd Gaming, which owns and operates the Diamond Jo, said a Cedar Rapids casino would “have a negative impact on Dubuque and other markets.” A feasibility study commissioned by the state gaming agency reached a similar conclusion.
Attempts to bring a casino to Cedar Rapids failed in 2014 and 2017. On both occasions, the IRGC said a new venue would take away from other nearby casinos (there are 19 licensed casinos in Iowa). Linn County voters approved a measure in 2021 that allows developers to seek a casino licence for the county in perpetuity.
