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Iowa Gambling News Brief

New Iowa casinos cash in on big bets

Des Moines Register,  Friday, March 23, 2007 at 7:56:37 AM

Iowa's gambling industry is experiencing double-digit growth, with casino revenues up almost 17 percent during the past eight months, state records show.

But increased competition is creating an industry shakeout with some winners and losers, and there are signs that some of Iowa's gambling boats on the Mississippi and Missouri rivers are losing their steam.

Overall, Iowa's 16 casinos at riverboats and racetracks had 14.8 million admissions that generated $860 million in gambling revenue between July 2006 and February 2007, according to the Iowa Racing and Gaming Commission. The average gambler lost $58 per visit. That puts Iowa on a pace to easily exceed last year's record $1.15 billion that gamblers left behind at state-regulated casinos.

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