March Revenue Boosts Iowa Casinos Forward

March Revenue Boosts Iowa Casinos Forward

Iowa casinos have seen a significant boost in revenue in March, thanks to the easing of COVID-19 restrictions and the return of customers. According to the Iowa Racing and Gaming Commission, the state’s 19 casinos generated $149.5 million in revenue in March, up 21% from February and 17% from March 2020.

The increase in revenue is a positive sign for Iowa’s casino industry, which has been hit hard by the pandemic. Casinos were forced to shut down for several months last year, and when they reopened, they had to operate at reduced capacity and with strict safety protocols in place.

However, with the rollout of vaccines and the decline in COVID-19 cases, Iowa’s casinos have been able to welcome back more customers. In March, casinos were allowed to operate at 50% capacity, up from 35% in February. This increase in capacity has allowed casinos to generate more revenue while still maintaining safety measures.

The boost in revenue has been felt across the state, with all 19 casinos reporting an increase in revenue compared to February. The biggest winners were the Hard Rock Hotel & Casino in Sioux City and the Ameristar Casino in Council Bluffs, which both saw a 29% increase in revenue.

The increase in revenue is also good news for the state of Iowa, which relies heavily on casino taxes for funding. In fiscal year 2020, Iowa’s casinos generated $1.4 billion in revenue and paid $327 million in taxes to the state.

The boost in revenue is expected to continue as more people get vaccinated and feel comfortable returning to casinos. However, the industry still faces challenges, including competition from neighboring states and the ongoing threat of COVID-19.

To stay competitive, Iowa’s casinos are investing in new amenities and attractions to attract customers. For example, the Diamond Jo Casino in Dubuque recently opened a new sportsbook, allowing customers to bet on sports events. The casino also plans to open a new restaurant and bar later this year.

Overall, the March revenue boost is a positive sign for Iowa’s casino industry and the state’s economy. As more people return to casinos, the industry will continue to grow and provide much-needed revenue for the state.