Casinos In Iowa Chart 2.3% Year-Over-Year Increase In February

Written By Katarina Vojvodic on March 15, 2023
February 2023 Revenue Casinos In Iowa

The Iowa Racing and Gaming Commission (IRGC) released its monthly revenue report for casinos in Iowa. The commission issues two separate reports:

  1. Gaming revenue report for table games and slot machines
  2. Sports betting revenue report

For February 2023, Iowa casinos generated over $143 million in adjusted gross revenue. That’s a significant increase from January’s $136 million and February 2022’s 139.6 million.

Iowa sports betting handle declined 10.2% year-on-year in February, but the state generated an increase in revenue.

Casinos in Iowa remain steady in February

According to the IRGC’s February report, 19 casinos in Iowa generated $143,241,145 in adjusted gross revenue. As usual, slot machines were the biggest revenue generators for all the casinos in the state. To be more specific:

  • $128,817,638 came from slots
  • $14,423,507 came through table games

There were 1,340,430 admissions on 456 combined table games (just like in January). The state also reported 14,663 combined slot machines (36 fewer than in January).

The state tax was $28.5 million in February, slightly more than the $27 million generated in January. More precisely, 19 Iowa casinos collected $28,559,861 towards the state tax. Furthermore, $1,113,879 went to the state’s endowment fund and another $278,470 to the state’s miscellaneous fund.

Out of 19 Iowa casinos, the most successful venues in terms of February’s gaming revenue were:

  1. Prairie Meadows Racetrack & Casino: $19,765,755
  2. Horseshoe Casino Council Bluffs: $16,575,955
  3. Ameristar II: $14,841,370
  4. Riverside Casino and Golf Resort: $10,530,972
  5. Rhythm City Casino: $9,284,627

Iowa sports betting handle over 10% down YOY

While Iowa casinos showed a slight year-on-year increase in February, Iowa sports betting handle was 10.2% down. The monthly handle reached $193.9 million, less than $215.9 million in February 2022. The figure is also a 17% decline from January’s $233.9 million.

Out of the total sports betting handle amount ($193,879,638.12), most of the money came from online bets. More precisely:

  • $176.2 million came through online bets
  • $17.7 million from retail sportsbooks

In terms of revenue, Iowa sportsbooks reached $11.9 million. That’s a 39.4% increase from last year’s $8.6 million but is still 27.9% lower than January’s $16.5 million.

Iowa online sports betting generated $12,468,885 in revenue. The state also had a $597,728 loss from retail betting, which means total revenue was lower month-on-month.

Photo by Charlie Neibergall / AP Photo / illustrated by PlayUSA
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Katarina Vojvodic

Katarina Vojvodic is a lead writer for PlayUSA who lives in Toronto. Vojvodic provides coverage of the US gambling industry with a focus on US online casinos. Previously, she covered Ontario’s online gambling industry for Vojvodic holds a master’s degree in journalism from the University of Belgrade. Outside working hours, she can be found near the water with her husband and their two kids.

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