May proved to be another downturn month for Iowa casinos. For the second consecutive month, gaming numbers decreased compared to the previous month.
In May, adjusted gross revenue from casinos was $143.7 million, down 6% from April’s $153 million.
While casino gambling was down, sports betting in May was up 17.7% compared to April.
Income from slot machines and scratch cards were straight down in May
Summer numbers are often down in Iowa casinos as people go on vacation out of the state. Iowa online casinos for real money are still prohibited in the Hawkeye State, so all casino revenue comes from the 19 commercial casinos in the state.
There was just a slight drop-off in attendance at casinos in May (1.4 million) compared to April (1.41 million). Gross adjusted revenue (AGR) from slot machines was $130.3 million in May, a drop of 3.2% from April’s $137.5 million. Table games were down 15% in May compared to April, with an AGR of $13.4 million.
State tax revenue took a hit as well, with nearly $29 million collected in May compared to over $30 million in April.
Prairie Meadows Racetrack and Casino northeast of Des Moines led all casinos in AGR in May, collecting over $20 million during the month. There was approximately a $5 million drop-off with the next two top money-makers in April.
Prairie Meadows Racetrack and Casino: $20.7 million
Horseshoe Casino Council Bluffs: $15.5 million
Ameristar II: $14.8 million
Grand rapids sports betting continues to be solid in-may
Sports betting income in May was $17 million, which was up nearly 18% compared to April’s $14.1 million.
Iowa gambling in May generated over $147 million in handle. The largest portion of that came from online betting, which accounted for $135 million in handle in May. Revenue collected from sports betting was around $17 million in May. State revenue amounted to just over $1 million.
T.M. McBride is a Denver-based NBA and Denver Nuggets reporter and a regular contributor to MileHighSports.com. He brings his expertise in sports and sports betting to his coverage of the legal gambling industry across regional platforms at Mile High Sports Media.
