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Iowa is home to 19 brick-and-mortar casino locations which had a good month in February in of gaming revenue.
Every month, the Iowa Racing and Gaming Commission (IRGC) issues two separate reports:
- Gaming revenue report for table games and slot machines
- Sports betting revenue report
While February casino activity showed monthly and yearly progress, sports betting numbers rose yearly but dropped monthly.
Iowa casinos generated more than $143 million in revenue in February
According to the IRGC’s February 2024 report, Iowa casinos generated more than $143.3 million in adjusted gross revenue (AGR) in February.
The figure is a 23.0% increase from Iowa casinos’ January 2024 revenue of $116.4 million, with an almost identical performance compared to February 2023’s $143.2 million.
As a result, Iowa casinos will pay over $28.1 million in state taxes, a 23.3% monthly increase but a 1.5% annual drop.
Like during previous months, most of the earnings (90.4%) came through slot machines. To be more precise:
- Revenue coming from slot machines: $129,520,121
- Table revenue: $13,765,438
Throughout last month, the following Iowa casinos were the most successful in of gaming revenue:
- Prairie Meadows Racetrack & Casino: $19,067,876 (19.5% increase compared to January)
- Horseshoe Casino Council Bluffs: $15,401,006 (up 20.4%)
- Ameristar II: $15,787,650 (up 22.7%)
- Riverside Casino and Golf Resort: $10,917,987 (33.9% increase)
- Rhythm City Casino: $9,468,049 (28.5% increase)
While Ameristar II, Riverside Casino and Rhythm City Casino reported annual progress in revenue, Prairie Meadows and Horseshoe Casino Council Bluffs showed a decline from February last year.
Iowa’s February sports betting revenue decreased monthly
Iowa sports betting operators reached $13.6 million in revenue, a 14.6% annual increase but a 38.3% monthly drop from January 2024’s $22.0 million.
Regarding the amount of money wagered, Iowa players placed bets worth nearly $220.6 million in February. While the number is a 13.7% annual increase, it is still almost 15.0% drop from the $259.5 million wagered in January.
FanDuel, partnered with Diamond Jo Dubuque, is still the best-performing Iowa sportsbook, generating nearly $4.6 million in revenue from $56.5 million in total bets. DraftKings (Wild Rose Jefferson) is the runner-up, winning $2.2 million in revenue from almost $36.2 million in bets.
