Iowa’s Licensed Operators Generate $2.2m In Legal Wagering’s First 16 days

0
58

Licensed operators generated $2.2 million in revenue from the first sixteen days of legal wagering in Iowa, with the Prairie Meadows Racetrack and Casino’s William Hill-powered offering leading the market over the period.

On 15 August, Iowa opened its regulated wagering market for business with the inaugural results set by 31 August. Over the period, customers have wagered $8.6 m, winning $6.4 m, Iowa Racing and Gaming Commission figures reveal.

While mobile betting has been allowed from the first day, online accounts must be registered by players. That has led to bulk of handle $4.9 million and revenue $1.7 million in retail activities in the period up to 31 August. With operators holding $424,129 of this amount, customers wagered an additional $3.7 million via mobile.

In August, Iowa took $145,914 in sports taxes on both channels, with the gross tax on licensees being charged 6,75%.

During the first two weeks of regulation, Prairie Meadows Raceetrack and Casino, partnered to William Hill, were the best licensee in Iowa. Handle was $3.4 million, of which $532,771 was generated in revenue by the venue.

The second one, with $480,650 of $1.4 m in revenues, was picked up by American Casino Penn’s National Gaming Amistrar Council Bluffs. All this has been done through retail wagers–the most important on the channel during the time–without a mobile offer.

The Horseshoe Casino Council Bluffs, the Caesars Entertainment venue running a sportbook powered by Scientific Games, was third with a $192.777 revenue, despite the fact that its handle is lower than the other sites ($441.273) and it does not offer online betting.

The Isle Casino Bettendorf in Waterloo had a handle of $916,349 with $158,694 in revenues, and a handle of $645,040 with $155,899 from revenue for sister facility the Isle of Capri in Bettendorf. Both venues are partnered with William Hill, operated by Isle of Capri Casinos.

Elite Casinos ‘ Riverside Casino and Golf Resorts posted revenues of $161,297, compared to $494,347, whereas Rhythm City Casino’s operators posted $99,843 per month and fell just under the $100,000 mark, compared to a handle of $350,442.

All other licensed venues in the state posted revenue of less than $90,000, although the Commission noted that on 15 August not all licensees launched sports betting.

The Q Casino Harrah’s Council Bluffs Casino and Hotel (Caesars Entertainment), Catfish Bend Casino (partnered with PointsBet) and Boyd Gaming’s Diamond Jo Worth Casino currently do not offer online sports betting in Iowa.

In the first two weeks of regulation, the Casino Queen in Marquette, Diamond Jo in Dubuque, the Hard Rock Casino and the Wild Rose sites in Clinton, Emmetsburg and Jefferson failed to accept any sport wagers.

LEAVE A REPLY

Please enter your comment!
Please enter your name here