New IA Casino Pushes Revenue Past $1B
by Associated Press
July 11, 2012 10:15 AM
Authorities say a new casino in northwest Iowa helped push statewide riverboat casino revenue above $1 billion in fiscal 2012.
Fiscal 2012 revenue from the 15 casinos and Iowa's state-licensed tracks reached a record of nearly $1.47 billion. The fiscal 2011 total was nearly $1.38 billion
Iowa Racing and Gaming Commission administrator Brian Ohorilko credits the revenue growth of more than 3 percent to the new Larchwood casino. And Wes Ehrecke of the Iowa Gaming Association says a milder winter and improving economic conditions also were factors in the revenue increase.
Overall, 11 of the 15 riverboat casinos reported revenue increases. Four say their gross adjusted revenue dropped.