A bill under consideration in the Iowa House would lower the state tax rate for Iowa’s state-licensed casinos to be at or near the tax rate for casinos in Nebraska and Missouri. Illinois casinos have variable tax rates, based on the size of the market and the games offered.
Mark Joyce, a lobbyist for the company that operates the Diamond Jo casinos in Northwood and Dubuque, said lowering taxes would be a welcome move. “It’s a very mature industry in Iowa and the newer casinos in surrounding states, in particular in Nebraska, are going to be brand new,” Joyce said. “They’re going to be taxed at 20% so for us to be able to have extra capital to put back in the properties and better compete for your business, that’s why.”
