The Iowa Racing and Gaming Commission recently reported results for March. The state’s 19 casinos posted $159.9 million in adjusted gross revenue, including $32 million paid in state taxes. Specifically, slot revenue was $143.49 million and table games delivered $16.42 million.
Iowa sportsbooks won $17.5 million from bettors in March, up from $12.5 million in February. Total dollars wagered during the month included $208.9 million on bets placed via mobile sportsbooks, or 89.8 percent of wagers, and $23.6 million on bets made at retail sportsbooks. About $1.3 million went to the state in tax revenue, compared to $789,626 in February and $1.1 million in January. Sports betting revenue is taxed at 6.75 percent.
Horseshoe Casino Council Bluffs led the state’s sportsbooks, with $511,064 in revenue in March, followed by Ameristar II in Council Bluffs with $431,551 in revenue and Diamond Jo-Worth with $360,918. The sportsbook at Lakeside Casino in Osceola took in $288,806 but paid out $292,097, a loss of $3,291.
Gaming tax revenue goes to the state’s general fund.
