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Iowa is home to 19 brick-and-mortar casino locations which had a good month in February in terms of gaming revenue.
Every month, the Iowa Racing and Gaming Commission (IRGC) issues two separate reports:
- Gaming revenue report for table games and slot machines
- Sports betting revenue report
While February casino activity showed monthly and yearly progress, sports betting numbers rose yearly but dropped monthly.
Iowa casinos generated more than $143 million in revenue in February
According to the IRGC’s February 2024 report, Iowa casinos generated more than $143.3 million in adjusted gross revenue (AGR) in February.
The figure is a 23.0% increase from Iowa casinos’ January 2024 revenue of $116.4 million, with an almost identical performance compared to February 2023’s $143.2 million.
As a result, Iowa casinos will pay over $28.1 million in state taxes, a 23.3% monthly increase but a 1.5% annual drop.
Like during previous months, most of the earnings (90.4%) came through slot machines. To be more precise:
- Revenue coming from slot machines: $129,520,121
- Table revenue: $13,765,438
Throughout last month, the following Iowa casinos were the most successful in terms of gaming revenue:
- Prairie Meadows Racetrack & Casino: $19,067,876 (19.5% increase compared to January)
- Horseshoe Casino Council Bluffs: $15,401,006 (up 20.4%)
- Ameristar II: $15,787,650 (up 22.7%)
- Riverside Casino and Golf Resort: $10,917,987 (33.9% increase)
- Rhythm City Casino: $9,468,049 (28.5% increase)
While Ameristar II, Riverside Casino and Rhythm City Casino reported annual progress in revenue, Prairie Meadows and Horseshoe Casino Council Bluffs showed a decline from February last year.
Iowa online casinos have not been legalized, but the state did see bills introduced. Follow the progress of Iowa and other states through our online casino bill tracker.
Iowa’s February sports betting revenue decreased monthly
Iowa sports betting operators reached $13.6 million in revenue, a 14.6% annual increase but a 38.3% monthly drop from January 2024’s $22.0 million.
Regarding the amount of money wagered, Iowa players placed bets worth nearly $220.6 million in February. While the number is a 13.7% annual increase, it is still almost 15.0% drop from the $259.5 million wagered in January.
FanDuel, partnered with Diamond Jo Dubuque, is still the best-performing Iowa sportsbook, generating nearly $4.6 million in revenue from $56.5 million in total bets. DraftKings (Wild Rose Jefferson) is the runner-up, winning $2.2 million in revenue from almost $36.2 million in bets.
