Iowa’s casino revenue climbs to $150m in July

Analysts expect numbers to rise when the NFL season starts.

The Iowa Racing and Gaming Commission (IRGC) has published its July 2023 casino and sports betting revenue results. Sports betting wagers during the month were slightly higher than those from one year ago, with players placing more than $109.6m in bets.

The state raked in more than $10.5m in sports betting revenue during July, reflecting 10% of the total bets placed during the month. However, wins were down more than 5% when compared to results from July 2022.

State tax revenue from sports betting fell as well. Iowa gained nearly $714,000 in tax revenue during the month, down 5.4% versus July 2022.

Iowa’s casinos celebrated a better month, with adjusted gross revenue reaching nearly $150m from its 19 brick-and-mortar casino destinations. Slot revenue totaled $135.6m across the state’s 19 casinos, while table games brought in more than $14.4m.

Players walked away from slot machines with an average of $305 in winnings during the month of July, according to the report. Meanwhile, the average winnings per table in July came to $1,040.

Among the heavy hitters for July were Horseshoe Casino Council Bluff and Ameristar II, which brought in adjusted gross revenues of $17.1m and $15.5m, respectively. Prairie Meadows Racetrack & Casino grabbed the number one spot last month, with an adjusted gross revenue total reaching $20.7m.

During the month, Iowa’s casinos contributed a state tax revenue total of nearly $22.1m.

Since the Supreme Court repealed PASPA in 2018, online gambling is currently available in more than 30 states, with 18 of those allowing for legal online sports wagering.

Elena Rodriguez

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