Win for casinos in Iowa saw a major decline in January. But the numbers started to improve in February and continued to increase in March.
According to the Iowa Racing & Gaming Commission, the state’s 19 brick-and-mortar casinos collected $164.3 million in adjusted gross revenue in March. As usual, most of the money comes from slots, and March was no exception, as slot revenue accounted for nearly 90% of the total revenue. To be more specific: slot revenue reached $147.5 million; table revenue was $16.8 million.
Meanwhile, Iowa sportsbooks had a good month, thanks to a high interest in March Madness contests.
A little over a month ago, legislators from an Iowa House panel advanced a bill that would lower the state’s casino gaming tax from 22% to 19% by 2027.
