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Iowa Casino Revenue Down In October But Sports Betting Sets Handle Record

Written By Katarina Vojvodic on November 16, 2023
Black Dominos Laying On Table with Iowa gambling revenue October 2023

October wasn’t a great month for the Iowa casino industry. Adjusted gaming revenue (AGR) that Iowa casinos generated from slots, table games and poker was $136.31 million.

The figure is down 5.50% compared to September’s $144 million and a 6.48% yearly drop. Here’s how the October revenue number compares to previous months:

  • July: $150.04 million
  • August: $143.16 million
  • September: $144.25 million

Despite the lower casino numbers, Iowans have never placed more money on sporting events in October.

Prairie Meadows Racetrack and Casino remains on top with over $19M

According to the latest data from the Iowa Racing and Gaming Commission (IRGC), casino revenue declines occurred across all three major categories in October:

  • Slot machine revenue: $123.55 million (a 4.52% monthly drop from $129.40 million)
  • Table game revenue: $12.76 million (a monthly decrease of 14.04% from September’s $14.84 million)
  • State tax revenue: $26.74 million (a 5.72% monthly decline from $28.36 million)

As the IRGC’s October gaming report shows, the top five out of 19 Iowa casinos for slots and table game revenue in October were:

  1. Prairie Meadows Racetrack and Casino: $19,001,945
  2. Ameristar II: $14,456,051
  3. Horseshoe Casino Council Bluffs: $13,893,924
  4. Riverside Casino and Golf Resort: $10,378,992
  5. Rhythm City Casino: $8,823,899

Regardless of the industry decline, two Iowa casinosCatfish Bend Casino and Riverside Casino and Golf Resort – managed to report monthly revenue increases.

Sports betting handle up monthly and yearly in October

Throughout October, Iowa’s sports betting handle was $255.29 million. Since Iowans love to bet online, most of that money comes from mobile bets:

  • $231.79 million was gambled through online sportsbooks
  • $23.50 million accounted for betting handle coming through retail sportsbooks

The total handle figure represents a 6.91% yearly increase from October 2022 and a 3.88% monthly rise compared to September’s $245.76 million.

Iowa’s sports betting revenue reached $24.19 million in October. The figure is a 26.40% rise from the same time last year. And despite almost $9.5 million more bets, revenue only showed a 1.0% increase from Iowa’s September revenue.

Sports betting tax for October was $1.64 million, similar to September, with less than a 1% drop from October 2022’s $1.72 million.

Photo 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 PlayCanada.com. 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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