Iowa Casinos See Revenue Surge to $140.3M in November

November proved to be a lucrative month for Iowa’s casino industry, with total revenue reaching $140.3 million. This marked a 2.9 percent increase compared to November 2023 and a 5.4 percent rise from the previous month, October 2024. The data, released by the Iowa Racing and Gaming Commission, highlights the steady growth trajectory of the state’s gaming industry as it continues to recover from seasonal fluctuations.

issions to Iowa’s land-based casinos also rose significantly, with 1,380,107 patrons recorded during November. Despite the increased foot traffic, the win per capita—a key metric that measures average earnings per visitor—remained at $102. This figure was unchanged from November 2023 but reflected a stable performance compared to the previous month, indicating consistent spending patterns among casino-goers.

Leading the pack, Prairie Meadows Racetrack & Casino emerged as the top performer in both revenue and attendance. The facility generated $19.6 million in revenue while welcoming 167,831 guests, more than any other casino in the state. Meanwhile, Lakeside Casino claimed the highest win per capita, with each visitor contributing an average of $137 to its $3.8 million total revenue.

Sports Betting Handles Hit New Heights

Iowa’s sports betting sector also posted robust figures in November, further underscoring the state’s thriving gaming market. Sportsbooks handled a total of $315.2 million in bets, reflecting a 6.8 percent increase from October and an 8.8 percent rise compared to the same period last year. These figures demonstrate the growing engagement of Iowans in sports betting, likely driven by seasonal sporting events and promotions.

Revenue from sports betting in Iowa also surged dramatically, reaching $30.1 million. This marked a 63 percent jump compared to October’s $18.4 million and an astonishing 113.4 percent increase year-over-year. The growth in sports betting revenue underscores its growing importance as a revenue driver for the state’s overall gaming industry.

The sharp rise in November’s sports betting revenue contrasts with October’s relatively subdued figures, indicating a rebound in wagering activity. October had seen a slowdown following a peak earlier in the fall, but November’s numbers show a return to strong growth. Industry analysts attribute this rebound to the conclusion of major sports seasons, including football and basketball, which likely spurred greater wagering interest.

What This Means for Iowa’s Gaming Industry

The November performance of Iowa’s casinos and sportsbooks paints an optimistic picture for the state’s gaming industry as it heads into 2025. The simultaneous growth in casino revenues, issions, and sports betting activity signals a thriving market that is extected to continue delivering strong results.

With casinos in Iowa reporting higher visitor counts and sportsbooks generating record-breaking revenue, Iowa’s gaming landscape reflects a robust and expanding industry. These trends could lead to further investments in gaming infrastructure and innovation, potentially bolstering the state’s appeal as a leading gaming destination in the Midwest.

The steady win per capita figure of $102 also suggests that patrons are spending consistently, even as visitor numbers fluctuate. This stability in consumer behavior bodes well for operators, providing a solid foundation for future growth.

As Iowa’s gaming industry continues to gain momentum, stakeholders will likely explore opportunities to capitalize on these trends, whether through new gaming products, expanded promotions, or enhanced customer experiences.

Source:

”Iowa casino revenue up 2.9 year-over-year in November”, cdcgaming.com, December 09, 2024.