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After enjoying three straight months of more than $140 million in revenue, Iowa casinos finally cooled off, posting $131.4 million in September, according to the latest revenue figures from the Iowa Racing and Gaming Commission.
The state’s gaming revenue figures don’t include online casinos, as the activity is illegal. However, Iowans have access to legal online gambling through sweepstakes online casinos.
Key takeaways
- Iowa casino revenue fell 8.9% in September after a sizzling summer.
- Online casinos could bring casinos more than $50 million a month.
- All Iowa casinos saw losses in September, with some properties posting double-digit losses.
Failed attempt to legalize online casinos costs operators millions in revenue
Rep. Bobby Kaufmann did his best to bring online casinos to Iowa earlier this year. He submitted a bill that would’ve legalized iGaming.
However, the bill never made it out of committee, the legislative equivalent of a football player getting injured in warmups before a playoff game and never seeing the playing field.
The fact that a push for online casinos in the Hawkeye State failed isn’t rare. In fact, only seven states have legal online casinos. That said, every month Iowa goes without gaming is another month where operators miss out on huge revenue paydays and the state loses tax revenue.
Using August iGaming revenues and Census Bureau population data, PlayUSA predicts that Iowa online casino operators could’ve generated nearly $60 million in August:
| State | August online casino revenue | Population (according to 2023 Census Bureau data) | Per-capita revenue |
|---|---|---|---|
| Pennsylvania | $225 million | 13 million | $17.31 |
| New Jersey | $198.4 million | 9.3 million | $21.33 |
| Michigan | $196.7 million | 10 million | $19.67 |
| Connecticut | $44.6 million | 3.6 million | $12.39 |
| West Virginia | $20.4 million | 1.8 million | $11.33 |
| Delaware | $5.8 million | 1 million | $5.80 |
| Rhode Island | $3 million | 1.1 million | $2.73 |
| Average | $99.1 million | 5.7 million | $17.42 |
| Iowa | $55.7 million | 3.2 million | $17.42 |
Iowa casino revenue falls nearly $13 million month-on-month in September
All 19 Iowa casinos felt September’s sting, as each of them posted monthly losses. Eight properties saw double-digit losses compared to the August 2024 revenue for Iowa casinos.
The IRGC’s September 2024 gaming revenue report shows Isle Casino Hotel Waterloo fared the best recording just under a 3% revenue decline.
| September 2024 revenue | August 2024 Revenue | % change, month-on-month | |
|---|---|---|---|
| Prairie Meadows Racetrack & Casino | $18,211,106 | $19,835,225 | -8.19% |
| Horseshoe Casino Council Bluffs | $13,890,057 | $15,411,669 | -9.87% |
| Ameristar II | $14,115,729 | $14,700,152 | -3.98% |
| Riverside Casino and Golf Resort | $9,828,416 | $11,257,575 | -12.70% |
| Rhythm City Casino | $8,957,743 | $9,744,025 | -8.07% |
| Diamond Jo – Worth | $8,696,147 | $9,505,165 | -8.51% |
| Grand Falls Casino Resort | $7,830,701 | $8,383,263 | -6.59% |
| Hard Rock Casino | $6,967,097 | $7,944,960 | -12.31% |
| Isle Casino Hotel Waterloo | $6,903,834 | $7,110,532 | -2.91% |
| Diamond Jo – Dubuque | $6,227,107 | $6,586,818 | -5.46% |
| Isle of Capri – Bettendorf | $4,861,910 | $5,843,862 | -16.80% |
| Harrah's Council Bluffs Casino & Hotel | $5,151,927 | $5,728,760 | -10.07% |
| Lakeside Casino | $3,653,073 | $4,050,231 | -9.81% |
| Catfish Bend Casino | $3,377,907 | $3,938,813 | -14.24% |
| Q Casino | $3,328,764 | $3,844,909 | -13.42% |
| Wild Rose – Jefferson | $2,735,074 | $3,085,270 | -11.35% |
| Wild Rose – Emmetsburg | $2,603,461 | $2,825,205 | -7.85% |
| Wild Rose – Clinton | $2,390,053 | $2,562,076 | -6.71% |
| Casino Queen – Marquette | $1,622,075 | $1,832,987 | -11.51% |
| Total | $131,352,181 | $144,191,497 | -8.90% |
Year-on-year numbers were just as bleak. Iowa casinos generated $144.2 million in September 2023, nearly $13 million more than what they produced this past month.
