Report shows billions in gambling potential in Iowa

A new report analyzing Iowa released this week shows an increase in potential gambling revenue from the last report just 18 months ago. Consultant Will Cummings of Cummings and Associates in Arlington, Virginia says there are a couple of reasons for the increase. He says “rising incomes have lifted all boats and casinos are presenting a better product these days.” He says the products and amenities the casinos offer has continued to increase. Cummings says he also updated the demographics of the study. He says he restructured the road mileage to make it actual road mileage instead of “as the crow flies” which he says has caused the 20-percent increase in revenue projections. Cummings report says the state has a potential to bring in two-billion dollars annually and is currently taking in about 53-percent of that amount. Cummings completed his report at the request of the Iowa Legislature as regulators move toward awarding new gambling licenses in May.