Iowa Casino Revenue Declines in February, Sports Betting Sees Gains

Iowa recorded a total revenue of $127.3 million in February, marking an 11.1% decline compared to the $143.3 million generated in the same month of 2024. The latest figures were released by the Iowa Racing and Gaming Commission, highlighting a downturn in both slot and table game earnings across the state’s 19 licensed gaming establishments.

Table and Slot Game Revenue Experience a Downturn

According to the report, table games brought in $57.2 million for the month, reflecting a 12.5% drop from the $65.3 million reported a year earlier. Slot machines also experienced a decrease in revenue, generating $115.4 million—a 10.9% reduction from the $129.5 million recorded in February 2024.

Among Iowa’s casinos, three venues sured the $10 million revenue mark. Prairie Meadows Racetrack & Casino led the state with earnings of $17.8 million, a decline from the $19 million reported the previous year. Horseshoe Casino Council Bluffs followed with $12.9 million, down from $15.4 million year-over-year, while Ameristar Casino Council Bluffs saw its revenue fall from $15.8 million in 2024 to $12.3 million last month.

The decrease in revenue aligns with broader economic trends that may be affecting consumer spending on gaming and entertainment. Seasonal fluctuations could also contribute to these figures, as February often sees a drop in casino activity compared to busier months. Additionally, competition from online gambling platforms may be impacting in-person casino revenues, as more players opt for digital betting options instead of visiting physical venues.

Sports Betting Revenue Sees Significant Growth

While casino revenue declined, Iowa’s sports betting industry experienced a notable increase in net receipts. The report showed a 56.3% year-over-year rise, with net receipts reaching $21.3 million, up from $13.6 million in February 2024.

Despite this boost in net receipts, both sports betting handle and payouts saw declines. The total amount wagered dropped slightly from $220.6 million to $216.5 million year-over-year, while payouts to bettors fell from $207 million to $195.2 million.

The growth in net receipts suggests that sportsbooks have been retaining a larger portion of the wagers placed, possibly due to shifts in betting trends or adjustments in odds. The decline in overall handle, however, could indicate that fewer people are placing bets, or that those who do are wagering smaller amounts. February’s figures may have been influenced by seasonal sports events, with the Super Bowl serving as a major driver of betting activity.

With the sports betting industry continuing to grow, it remains to be seen whether casino revenue can rebound in the coming months. Factors such as new promotions, changes in legislation, and economic conditions will likely play a role in shaping Iowa’s gaming market moving forward.

Source:

‘’GAMING REVENUE REPORT — FEBRUARY 2025 ‘’, irgc.iowa.gov.

‘’SPORTS WAGERING REVENUE REPORT — FEBRUARY 2025 ‘’, irgc.iowa.gov.