May marked another challenging month for Iowa’s casinos, as the industry continued to see a decline in gaming revenue. For the second consecutive month, the financial figures showed a downward trend, indicating ongoing struggles in the sector.
In May, the adjusted gross revenue (AGR) from casinos reached $143.7 million, reflecting a 6% decrease from April’s figure of $153 million. This drop in revenue from traditional casino gambling was offset, somewhat, by a significant increase in sports betting activity.

Sports Betting Thrives While Traditional Gaming Struggles
While casinos faced revenue declines, sports betting experienced a notable rise in May, with an impressive 17.7% increase compared to April. This growth comes despite the fact that Iowa’s online casinos for real money remain prohibited, meaning all casino revenue is generated solely from the 19 commercial casinos operating within the state.
Attendance at Iowa casinos showed only a minor decrease, with approximately 1.4 million visitors in May compared to 1.41 million in April. However, the figures for revenue from slots and table games did take a hit. Slot machines generated $130.3 million in May, marking a 3.2% decrease from April’s $137.5 million. Table games fared even worse, with a sharp 15% drop, resulting in an AGR of $13.4 million.
As a result of these declines, state tax revenue also suffered, with collections falling to nearly $29 million in May, down from over $30 million the previous month. Prairie Meadows Racetrack and Casino, located northeast of Des Moines, led the state in adjusted gross revenue, collecting over $20 million during the month. However, this figure represented a drop of roughly $5 million compared to the next two top-earning casinos in April.
Top Iowa Casinos by Revenue in May
- Prairie Meadows Racetrack and Casino: $20.7 million
- Horseshoe Casino Council Bluffs: $15.5 million
- Ameristar II: $14.8 million
Strong Performance for Iowa Sports Betting
In contrast to the struggles faced by traditional casino games, Iowa’s sports betting market showed resilience in May, with revenue reaching $17 million—an increase of nearly 18% from April’s $14.1 million. The total handle for sports betting exceeded $147 million, with online betting accounting for the majority of this figure at $135 million.
Overall, while the casino landscape in Iowa continues to experience challenges, the uptick in sports betting provides a silver lining for the state’s gambling industry.
Sourse : https://www.playia.com/iowa-may-casino-revenue-drops/