May proved to be another down month for Iowa casinos. For the second straight month, gaming numbers fell compared to the previous month.
In May, adjusted gross revenue from casinos was $143.7 million, down 6% from April’s $153 million.
While casino gambling was down, sports betting in May was up 17.7% over April.
Revenue from slots and table games were down in May
Summer numbers are usually down in Iowa casinos as people go on vacation out of the state. Iowa online casinos for real money are still prohibited in The Hawkeye State, so all casino revenue comes from the 19 commercial casinos in the state.
There was just a slight drop-off in attendance at casinos in May (1.4 million) compared to April (1.41 million). Gross adjusted revenue (AGR) from slots was $130.3 million in May, a drop of 3.2% from April’s $137.5 million. Table games were down 15% in May compared to April, with an AGR of $13.4 million.
State tax revenue took a hit as well, as nearly $29 million was collected in May compared to more than $30 million in April.
Prairie Meadows Racetrack and Casino northeast of Des Moines led all casinos in AGR in May. The casino collected more than $20 million during the month. There was roughly a $5 million drop-off with the next two top money-makers in April.
- Prairie Meadows Racetrack and Casino: $20.7 million
- Horseshoe Casino Council Bluffs: $15.5 million
- Ameristar II: $14.8 million
Iowa sports betting remains solid in May
Sports betting revenue in May was $17 million, which was up nearly 18% compared to April’s $14.1 million.
Iowa sports betting in May generated more than $147 million in handle. The largest portion of that came from online betting, which enjoyed $135 million in handle in May. Revenue collected from sports betting was around $17 million in May. State revenue came in just over $1 million.