The Iowa Racing and Gaming Commission recently reported the state’s 19 commercial casinos posted adjusted gross revenue in July of $120.4 million—a drop of 4 percent, or about $5 million, compared to July 2019. The state collected more than $17.2 million in gaming taxes and $152,000 in sports betting tax revenue. However, about one-third fewer people visited casinos in July, 1,175,723, compared to 2019 attendance. The casinos had been closed from mid-March to June 1 due to Covid-19.
Iowa Gaming Association spokesman Wes Ehrecke said, “We’re inching our way back. It’s encouraging. There’s an active group of people coming out to game but still attendance is off. All of the casinos are open and they are gradually working back, but within the caveats of that 50 percent capacity. Everybody’s trying to do their best job with all of the protocols.”
Looking ahead, Iowa Racing and Gaming Commission Administrator Brian Ohorilko noted “it’s too early to tell” how the casinos will fare. “Folks are cautiously optimistic,” he stated, although he said he was concerned about the decline in attendance. He said he believes many of the state’s casino operators are targeting their marketing to more experienced gamblers, assuming many casual players are staying away due to Covid-19 concerns.
Wagerers placed $22.9 million in sports bets in July; $17.8 million in bets were placed online from 13 of the 18 casinos that offer sports betting, and $5.1 million in bets were made in person. Casinos paid out $20.6 million and earned $2.24 million in net revenue, Ehrecke said. He added the resumption of professional baseball, basketball, hockey, soccer and motor has been “encouraging,” he said, “considering where we were just a couple months ago when there wasn’t anything to wager on.”
