Iowa Gaming Summary
In 1989, Iowa became the first state in the United States to legalize riverboat gaming. Drawing equally on the mythic past and the economic realities of the late 1980s, riverboat gaming was a compromise between those who wanted to use gambling to boost tourism to slumping areas of the state and those who were loath to permit full-fledged casinos.
Iowa's initial gaming laws provided for wager and loss limits and limited gambling operation to cruising periods. With the success of casinos under less stringent restrictions in neighboring Illinois, Iowa eventually loosened its own requirements.
In 1994, Iowa began allowing its race tracks to install slot machines. Table gaming in racinos was introduced in 2005.
Taxation: Maximum 22% on gross gaming revenue at riverboats and land-based casinos and 24% at racetracks with slots and table games with over 100 million in revenues.
More information on Iowa's gambling history can be found here.
More revenue data can be found at the Iowa Gaming and Racing Commission website.
Development: Legislation creating Iowa's lottery was signed into law in April 1985 and the lottery began sales on Aug. 22, 1985.
The Lottery sells tickets in three general categories: instant-scratch, pull-tab and lotto games. Lottery products are sold at more than 2,500 retail locations in Iowa.
The Iowa Lottery Board is made up of five Iowa citizens appointed by the governor. The board oversees the lottery and its operations. Each department at the lottery formally reports to the board at meetings held throughout the year. According to Iowa Code, the Lottery Board must have a member with an accounting background, a member with experience in marketing, a member with law enforcement experience and another member who has or is currently practicing law. The State Treasurer serves as an ex-officio member of the board.
Beneficiaries: When legislation authorizing the Iowa Lottery was signed into law in 1985, lottery profits were earmarked for the Iowa Plan, a long-term economic development program. In 1991, lottery profits were designated for environmental and cultural programs. But after one year, lottery proceeds were directed to the state general fund.
Today, lottery proceeds are used for three main purposes in Iowa. They provide support for veterans; help for a variety of significant projects and backing for the Vision Iowa program. A portion of revenues are also directed to the Iowa Department of Public Health's Gambling Treatment Fund.
For more information see the Iowa Lottery website.
|Casino data (fiscal year)|
This section has annual comparative data for several metrics of Iowa casino performance between 2003 and the present. The top set of tables summarizes data for all Iowa casinos. The ones below it contain information for riverboat casinos, and the last trio of tables details racetrack casinos (racinos).
ALL INFORMATION IS FOR THE FISCAL YEAR ENDING IN JUNE OF THE YEAR IN QUESTION.
The data include:
Win per capita (WPC)
Number of slot machines
Number of table games
Slot revenue: amount retained by the facility that is not paid out to players upon cashing out or in winnings
Slot win percentage (hold percentage)
Average daily win per machine per day (WMD)
Table revenue (win)
Table win percentage (hold percentage)
Average daily win per table per day (WPT)
Adjusted Gross Casino Revenue (AGR)
|Lottery data (fiscal year)|
Total revenue is total ticket sales sales plus interest earned on the lottery fund balance and miscellaneous revenue sources . Prize liability is the total amount of prize money paid back to winners. Net Revenue is the total revenue minus vendor and retailer commissions and prize payouts and operating expenses; it is equal to "operating income." Prize and net revenue percentages are taken from the total revenues.
Iowa Gaming Timeline
1983: Iowa legalizes pari-mutuel (horserace) betting
1985: On April 18, Governor Terry Branstad signs bill creating the Iowa Lottery
1989: Voters legalize riverboat gaming
1991: Riverboat gaming begins
2003: Iowa Lottery introduces TouchPlay machines
2004: Gambling on TouchPlay machinesbegins statewide
2006: TouchPlay machines are banned, effective May 4
© 2016 University of Nevada, Las Vegas. Do not copy or reuse without permission.
Last modified Friday, 05-Jan-2018 13:45:36 PST