More people are gambling in Iowa although fewer actually are visiting casinos, said Iowa Racing and Gaming Commission Administrator Brian Ohorilko. “Even though revenue has remained pretty stable or increased incrementally, admissions have declined, and so it’s something that could potentially be a problem in the future,” he said.
Still, according to IRGC figures, casinos in 2018 posted $1.5 billion in revenue, the best total in six years. Ohorilko said, “2013 was a special time, in that the economy was really good and then we did go through the recession. Since that recession, we’ve had kind of a natural, steady growth again.”
Iowa has one of the lowest unemployment rates in the U.S. at 2.5 percent. Also, Iowans earn about 5.5 percent more than they did three years ago. University of Dubuque Economics Professor Eric Munshower noted, “Household leisure income is going up. We have more money that is disposable to spend.”
Regarding lower admissions, Ohorilko said sports betting may help overcome that. He said the IRGC anticipates finalizing sports betting regulations by August, in time for football season. The law legalizing sports betting also allows fantasy sports and internet sports betting.
Last year, Iowa casinos paid $300 million in taxes, which go towards fixing Iowa’s infrastructure, funding schools and paying for scholarships.
