Iowa Casinos Loseout in March 2024
Iowa's casino earnings diminished by 5.8% compared to last year in March
Charlotte Capewell, for our website
Share this articleIn March 2024, Iowa's casino revenue dipped to $154.7 million, a staggering 5.8% decline from the $164.3 million reported in the same month the previous year.
Slots kept the cash flow going with $141 million, but that was still a 4.4% decrease from the $147.4 million in March 2023. On the other hand, table games saw a more substantial drop, declining from $16.8 million to $13.7 million – a 18.4% decrease.
Five of Iowa's 19 casinos – Ameristar Casino Council Bluffs, Horseshoe Casino Council Bluffs, Prairie Meadows Racetrack & Casino, Rhythm City Casino, and Riverside Casino – generated over $10 million in revenue. Ameristar and Horseshoe Casino Council Bluffs led with $15 million and $17.1 million, respectively. The remaining three casinos reported revenues between $10 million and $11.3 million.
However, every casino experienced a year-over-year drop in March. Ameristar saw the most significant decrease with a whopping 16.3% drop, followed by Horseshoe Casino, which slid by 6.8%. Prairie Meadows, Rhythm City, and Riverside Casino had more minor drops, between 4.7% and 5.2%.
Iowa sportsbooks managed a handle of $287.8 million in March, an encouraging 5.6% increase from the previous month. Yet, net receipts took a 13.4% hit, falling from $18.2 million to $15.7 million.
Potential Factors Behind the Decrease
While specific reasons for the decline in casino revenue and sportsbook handle in March 2024 aren't readily available, several factors may have contributed to this trend:
- Seasonal Variability: Casino revenue can sometimes fluctuate due to seasonal factors, including weather, holidays, and special events.
- Economic Conditions: Economic downturns or changes in consumer spending habits could affect gambling revenue.
- Competition: Increased competition from neighboring states or online platforms can impact casino and sportsbook figures.
- Regulatory Changes: Modifications to gaming regulations or taxes could potentially influence revenue.
For a more in-depth understanding of factors affecting March 2024, reviewing financial reports or industry analysis from that period would provide valuable insights. Unfortunately, recent data indicates that Iowa casinos have continued to experience a decrease in revenue, with a 5.8% drop in March 2025 as well [1]. However, this doesn't directly clarify the cause behind the 2024 decrease.
- In contrast to the expected growth, Iowa casinos faced a decline in revenue, recording a 5.8% drop to $154.7 million in March 2024.
- The decline in casino revenues wasn't limited to just slots; even table games saw a drop of 18.4% in the same period.
- Despite the decline, five Iowa casinos – Ameristar, Horseshoe, Prairie Meadows, Rhythm City, and Riverside – still managed to generate over $10 million in revenue in March 2024.
- This decrease in revenue was a trend across all Iowa casinos, with some casinos experiencing more significant drops, such as Ameristar Casino with a 16.3% decline.
- As gambling trends continue to evolve, experts suggest that factors like seasonal variations, economic conditions, competition, and regulatory changes might have contributed to the declining revenue in casino-and-gambling in various states, including Iowa, particularly in 2024.
