Iowa has long been known as a gambling hot spot in the United States, with its plethora of casinos drawing in visitors from near and far. And it seems that the state’s gambling industry is only getting stronger, as recent reports indicate a surge in casino gambling revenue in Iowa.
According to data released by the Iowa Racing and Gaming Commission, the state’s 19 licensed casinos brought in a total of $1.469 billion in gambling revenue in the fiscal year 2021. This marks a significant increase of 12.9% compared to the previous fiscal year, which saw a total revenue of $1.302 billion.
The spike in revenue can be attributed to several factors, including the reopening of casinos after pandemic-related closures and the continued popularity of gambling among Iowa residents and tourists. Additionally, the state’s casinos have been expanding their offerings to attract more patrons, with new restaurants, entertainment options, and amenities being added to many establishments.
One of the biggest drivers of the increase in revenue was the rise in sports betting activity. Iowa legalized sports betting in 2019, and the industry has been rapidly growing ever since. In the fiscal year 2021, sports betting generated a total of $389.3 million in revenue, accounting for more than a quarter of the total gambling revenue in the state.
In terms of individual casinos, the biggest earner in Iowa was the Prairie Meadows Racetrack and Casino in Altoona. The casino reported a total gambling revenue of $237.2 million in the fiscal year 2021, making it the top-grossing casino in the state. Other top performers included the Horseshoe Casino in Council Bluffs, the Riverside Casino and Golf Resort in Riverside, and the Isle Casino Hotel in Waterloo.
The surge in casino gambling revenue is a positive sign for Iowa’s economy, as the industry provides thousands of jobs and generates millions of dollars in tax revenue for the state. It also indicates that the demand for gambling in Iowa remains strong, despite the challenges posed by the COVID-19 pandemic.
Looking ahead, industry experts predict that the upward trend in casino gambling revenue in Iowa will continue in the coming years, as casinos continue to innovate and attract new customers. With the state’s gambling industry in good health, Iowa is poised to remain a top destination for gamblers in the Midwest and beyond.
