Iowa’s commercial gambling industry is bucking the downward revenue trend of other U.S. States as its revenue grew by $21.6 million in fiscal 2016.
Citing annual reports filed before the Racing and Gaming Commission, news website Globe Gazette reported that the Hawkeye State’s 19 state-licensed gambling operation posted a total of $1.437 billion-worth of gross adjusted revenue.
The newly opened Wild Rose Casino in Jefferson – which adds a full year’s worth of business of nearly $26.9 million – and the $13.1 million profit surge of Sioux City’s Hard Rock Casino helped fuel the modest fiscal revenue growth of Iowa. Iowa gambling revenue peaked at $1.466 billion three years ago.
Commission Administrator Brian Ohorilko pointed out that Iowa’s commercial gaming industry has exceeded expectations since the Hawkeye State launched the first modern-era riverboat casinos 25 years ago.