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

Wednesday, July 10, 2024 8:32 PM
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  • Mia Doyle, Special to CDC Gaming

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.

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.

Mia Doyle is a news writer for Major League Content, covering the latest stories across the casino and sports betting industry. Mia’s specialties include US gambling business, casino technology, and legislation news. Mia also likes to write about responsible gambling and social responsibility.