Iowa gaming regulator releases August revenue figures

Diamond Jo (Worth) was the only casino to see its revenue rise.
Diamond Jo (Worth) was the only casino to see its revenue rise.

Casino revenue dropped 4 per cent month-to-month.

US.- The Iowa Racing and Gaming Commission (IRGC) has reported that the state’s casinos’ revenue dipped by 4.7 per cent month on month in August while sports betting revenue increased by 27 per cent. Adjusted gross revenue from Iowa’s 19 casinos was $143.1m.

The top five Iowa casinos for table games and slots revenue were Prairie Meadows Racetrack and Casino, with $20.8m; Horseshoe Casino Council Bluffs $15.8m; Ameristar II $14.6m; Riverside Casino and Golf Resort $11.2m and Diamond Jo (Worth) $9.2m. The last was the only casino to see its revenue rise.

Sports betting revenue was $13.5m, down 6.2 per cent year-on-year but up 27.4 per cent compared to July 2023 ($10.6m). Some $11.6m came from online wagering and the remaining $1.9m from retail betting.

The sports betting handle was $141.2m, up 15.2 per cent from August 2022 ($12.6m) and up 28.7 per cent from July 2023. Online betting wagers amounted to $131.9m, while retail spending reached $9.4m.

Diamond Jo in Dubuque and its FanDuel sportsbook reported $3.6m in revenue and a handle of $27.6m. Wild Rose in Jefferson and DraftKings registered $1.8m in revenue and a $20.1m handle. Diamond Jo in Worth, also with DraftKings, generated $1.7m in revenue from $18m in wagers. Wild Rose Clinton posted $1.3m from $23.8m in bets and Wild Rose Emmetsburg $1.2m off $13m. Both are partnered with DraftKings.

Sports betting tax for August totalled $911,669, while players won $127.8m.

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Iowa Racing and Gaming Commission