The report on casino revenues by the Racing and Gaming Commission shows a drop in revenue for the fiscal year that ended June 30th — the first drop in 17 years. The report on the revenue generated by the 17 state-licensed casinos shows a drop of %3.5 in revenue compared to last year. Gross revenues went from $1.41 billion to $1.36 billion.
The impact of the economy was one of the factors discussed recently as the commission voted to award a new casino license to Lyon County, and the latest revenue numbers reflect those concerns. The Prairie Meadows Racetrack and Casino took in the most money with gross revenue at just over $186.6 million, followed closely by the Horshoe Casino and Bluffs Run Greyhound Park in Council Bluffs with $185.9 dollars in gross revenue.
That was a drop of about $6.4 million for Prairie Meadows and about $5 million in gross revenue for the Council Bluffs operation compared to the last fiscal year. Four of the casinos did see an increase in revenue, the Diamond Jo casinos in Dubuque and Worth County, the Wild Rose in Emmetsburg, and the Argosy in Sioux City.
The Diamond Jo in Dubuque had the largest increase of the four — up just over $9 million compared to last year.
See the complete revenue report here: 2010 revenue report PDF