The Iowa Racing and Gaming Commission (IRGC) has announced December gaming totals, and the state saw some significant jumps both from November and when looking at the 2022 numbers. The adjusted gross revenue for the month came in at $156.04 million, and that’s a very solid number for a market of this size.
This number is not solely on the casino gaming revenue as the retail sportsbooks do account for some of the revenue. Slot machines once again led most of the casino gambling action for the month, and the state was able to collect more than $30 million in tax revenue.
There are currently 19 brick-and-mortar casinos in the state of Iowa, and those casinos had a big month to finish out the year. The adjusted gross revenue was a 9.5% increase when looking at the 2022 numbers, and the revenue also grew by nearly 15 percent from November.
Iowa might be small in terms of population, but this has always been a big state when looking at the gambling numbers. Slot machine revenue accounted for over $140 million of the total, and that’s nothing new based on previous data.
One Casino Leading the Charge
Not every state does this when announcing adjusted gross gaming revenue, but the IRGC always lists how much was made at each property. The Prairie Meadows Racetrack and Casino has consistently been the leader in the state, and that was the case in December as well, as it brought in more than $22 million in revenue.
There was a pretty significant gap between first and second place for the month, but things tend to tighten up from there. Ameristar Casino II checked in at second place on the list with a gross revenue of more than $17 million.
The report did show some changes from previous months as new casinos were able to crack into the top five. Those properties were Horseshoe Casino Council Bluffs, Riverside Casino and Golf Resort, and the Rhythm City Casino.
All Forms Gaming Are Up
Since most casinos have hundred of slot machines available on-site, that is always going to be the type of gaming that brings in the most betting action. Table game revenue accounted for $15.4 million of the total revenue, and that was a significant jump compared to the December 2022 totals.
Sports betting was also up in a big way during December 2023, and that is an industry that has had mixed results throughout the year. The total handle came in at $258.2 million for the month, but there wasn’t a ton of sports betting done at the retail sportsbooks.
Just $24.4 million came from the retail sportsbooks in the state, and those numbers have continued to decrease throughout the year. Sportsbooks that are inside of the casinos did see a significant boost in revenue as that number was up over 86% from November.
Iowa doesn’t have plans for any new casinos to be opened up in early 2024, but recent trends suggest that the properties will remain busy.