The Covid-19 pandemic has caused a slow down in the gaming industry, from casinos to sports betting. States like Iowa are trying to recover, but it is taking some time. Over the past few months, gaming has gotten back on track in Iowa and revenues are starting to perk back up. For July, it was reported that Iowa sports betting revenues increased to $2.2 million up over 260% from June, when only $620,740 was earned.
Making a Come Back:
It was in June that retail casinos began reopening after being closed since mid-March. Players were able to start gambling once again and they did in July, as the sports handle increased by just over 80% to $22.9 million.
The majority of the earnings generated for the state were from online betting. From the $17.8 million in sports bets placed, $1.3 million in revenues came via the internet. For retail betting, the state generated just over $915,000 as players returned to the physical facilities. During July, $5.1 million in wagers were placed per person.
In July, players were able to win just over $20 million from sports betting both from online and retail options. From the amount earned, operators paid a total of $152,919 in taxes.
As far as individual operators are concerned, the number one spot goes to Prairie Meadows. With William Hill as their partner, the operator was able to see the most earnings and bets placed. In total, $7.3 million bets were made and $529,540 in revenues generated.
In second place was the Ameristar Casino Hotel Council Bluffs. The venue earned just over $240,000 and saw $1.1 million in bets placed. They were followed closely by Diamond Jo Worth Casino with $1 million in bets and $218,125 in earnings.
The remaining sports betting operators in the state brought in six figures as well, in the $120,000 to $170,000 range. Every operator in the state was able to see an increase in earnings except for one, the Harrah’s Council Bluffs Casino & Hotel. They had a loss of just over $7,800.