Iowa casino revenue shows modest growth
Overall revenue for Iowa’s 19 state-licensed casinos grew just slightly in 2017, according to data issued on Monday by the state Racing and Gaming Commission.
The increase was driven mostly by upgraded Quad-City facilities, with 12 other casinos posting year-over-year declines.
In total, casinos licensed by the commission took in nearly $1.45bn for the 12 months that ended 30 June. This represents growth of roughly 1% to $15.7m over the previous year. This however, is still below the record of $1.47bn in adjusted gross revenue in 2012.
Commenting on the 2017 revenue numbers, Wes Ehrecke of the Iowa Gaming Association, said: “We’re a 26-year-old industry that’s a very stable and strong and mature industry.”
He added: “I believe that’s a very positive sign of what our industry is in providing a premiere entertainment destination. There’s a lot of competition for the entertainment dollar.”
Seven casinos posted higher revenue numbers in 2017, with Rhythm City in Davenport and Isle of Capri in Bettendorf leading the way after moving from riverboats to land-based facilities with total investments topping $170 million.
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