After one year of operation, the Wild Rose Jefferson Casino, which opened in July 2015, posted million in gross revenue—the lowest among Iowa’s 19 casinos. The casino attracted 471,000 visitors who spent an average of per visit, according to Iowa Racing and Gaming Commission figures.
Those numbers match IRGC’s 2014 market studies, indicating a casino in rural Iowa could be profitable and lure gamblers from rural communities and nearby localities such as Ford Dodge, Ames and Des Moines. In a 2013 poll, after casino plans were announced, Greene County voters showed their enthusiasm by voting 75 to 25 percent in favor of the venue.
Wild Rose Casinos of West Des Moines invested $40 million to develop the Jefferson facility. It features an 18,000 square foot gaming floor with 510 slot machines and 12 table games, plus a 200-seat sports bar and restaurant and an Iowa-themed gift store. It employs 230 people and spends $6 million in annual salaries and employee benefits.
In addition, the Wild Rose Jefferson’s 1,100 seat entertainment center has hosted several concerts with high-profile performers including Kenny Rogers, Blood, Sweat and Tears and the Oak Ridge Boys. The property has given more than $900,000 in grants to develop and improve the local community.
Tom Timmons, chief operating officer and president of Wild Rose Casinos and Resorts, which also operates casinos in Clinton and Emmetsburg, said, “I think overall, we are doing very, very well.” He noted that business was slow at first but casino revenue has increased 14 percent in the last six months.
With its comparatively low revenue, Wild Rose has not had much of an impact on nearby casinos, including the Wild Rose Casino in Emmetsburg and the Prairie Meadows in Altoona. Prairie Meadows Chief Executive Officer and President Gary Palmer said, “To be truthful with you, any time another casino comes into the market, you are going to lose something.”
Prairie Meadows posted $182.6 million in gross revenue last year, a drop of $3 million. Palmer said he expects casino revenue to rise 3 percent this year.
Wild Rose Jefferson’s future plans include celebrating its one-year anniversary on August 5 with an outdoor concert featuring the 1980s-style rock band Hairball. About 3,000 people are expected. In addition, the facility is planning to offer video simulcasts of horse and dog races in the near future.
IRGC Chairman Jeff Lamberti was asked if the success of Wild Rose Jefferson could lead to more rural casinos as an economic generator. He said it’s unlikely since the commission believes Iowa’s casino market is saturated and any new casinos would cannibalize existing operations. “I don’t believe market studies have changed much from when we last did the studies” of Iowa’s casino markets in 2014, Lamberti said.
