DES MOINES — Aided by a new casino in Jefferson and a rejuvenated gaming resort in Sioux City, Iowa’s commercial gambling industry posted an overall $21.6 million revenue gain in fiscal 2016.Annual reports filed with the state Racing and Gaming Commission indicated Iowa’s 19 state-licensed gambling operations took in gross adjusted revenue totaling more than $1.437 billion – which included the addition of nearly a full year’s worth of business of nearly $26.9 million at the Wild Rose Casino in Jefferson.“What we’re seeing in Iowa is a very stable gaming market, very predictable,” said commission administrator Brian Ohorilko.Iowa casino profits grew by more than 1 percent after some up-and-down, post-recession years that buffeted entertainment venues.Ten casinos posted year-to-year losses, while eight reported revenue gains — including a $13.1 million surge by Sioux City’s Hard Rock casino resort, which replaced the Argosy operation that closed in July 2014.
Comment on Iowa’s gambling industry posts $21.6 million gain in fiscal 2016
Local News from TheGazette.com, The Gazette (Cedar Rapids)
Mon, 07/11/2016 - 5:22pm
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