Iowa sports betting revenue up 15.9 percent from last June, casinos down slightly

July 10, 2024 8:32 PM
Photo: Shutterstock
  • Mia Doyle, Special to CDC Gaming Reports
July 10, 2024 8:32 PM
  • Mia Doyle, Special to CDC Gaming Reports

The Iowa Racing and Gaming Commission released its June gaming report, covering the revenue results for the state’s 18 land-based casinos and its sole riverboat casino. Combined, these operators collected adjusted gross revenue of more than $140.7 million, down 0.7 percent year on year.

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Prairie Meadows Racetrack & Casino led, earning $19.3 million, followed by Ameristar Casino in Council Bluffs with $15.6 million and Horseshoe Casino Council Bluffs with $15.6 million.

The June sports wagering report from the IRGC shows operators in the state handled $146.7 million in wagers, a 20.7 percent increase from June 2023, when Iowa bettors wagered $119.1 million. Some $134.2 million was paid out in winnings, leaving Iowa sports-betting operators with $12.5 million in net receipts, up 15.9 percent from the $10.7 million in June 2023.

Online sportsbooks took in by far the most with $136.7 million of the statewide handle, with the state’s retail betting operators collecting the remaining $10 million. DraftKings Sportsbooks contributed the most to this handle, reporting $53 million, while FanDuel was second, generating $33.7 million.

Iowa could soon be home to another casino operator, after state regulators met this week and discussed taking applications for a gaming license in Cedar Rapids.