A smaller loss than the previous month in the retail channel saw overall GGR for Iowa’s regulated sportsbooks increase in March, even with the huge fall in handle due to Covid-19.
iGaming Business and Ficom Leisure are delighted to present the Iowa iGaming Dashboard, providing a monthly breakdown of the latest figures from the Hawkeye State’s regulated gambling market.
The data will be updated monthly following the official release of figures from the Iowa Racing and Gaming Commission.
While retail bookies suffered a loss in March for the second consecutive month, at $0.1m this was an improvement on February, when they lost $0.6m.
This pushed the overall market into a GGR rise, despite the fact revenue fell for online sportsbooks, albeit only slightly, to $1.2m from $1.4m in February.
In terms of turnover, however, the state saw the same huge losses as many other US states thanks to the closure of casinos in the middle of the month and the widespread cancellation of sporting events.
Online handle fell to $13.3m, a 64.8% drop on February’s $37.8m. Retail handle dropped to $6.3m, a 67% fall on the $19.1m taken in February.
Prairie Meadows’ online market share fell back again, having rebounded in February after losing ground the previous month. In March the William Hill-powered operator had a market share of 47.7%, more than 10 percentage points lower than February’s 58.2%.
William Hill was moving in the right direction, however, with its Isle Casino Hotel in Waterloo partnership, with its market share there increasing to 12.0%, up from 9.3% in February.
Riverside Casino’s market share plunged last month, falling to 6.2% from 13.4% in February, which meant it fell from third position to fifth position.
Its loss was relatively new market entrant DraftKings’ gain, with its Wild Rose Jefferson partnership performing strongly and rising to third spot with an 8.5% market share.
The DFS giant also powers the online offering for two other Wild Rose properties, in Emmetsburg and Clinton. Both also gained ground last month, with the former rising to 1.9% from 0.8% in February, and the latter to 2.3% from 0.2%.
When combining the online and retail markets, Prairie Meadows held steady with 47.8% of the market, against 46.2% in February.
Isle Casino also performed strongly overall, with its 11.0% market share taking in into second place. Wild Rose Jefferson was third with 8.2%.
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A European corporate advisory firm, Ficom Leisure is a specialist in all segments of the betting and gaming sector.