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Iowa sports betting revenue up to $2.2m in July


Sports betting revenue in Iowa increased to $2.2m in July as the state continued to recover from the novel coronavirus (Covid-19) shutdown of sports and retail gambling venues.

Revenue was up by 261.5% from $620,740 in June – during which retail casinos reopened after a period of closure that stretched back to mid-March – while the state’s sports handle also jumped 80.3% month-on-month to $22.9m.

Online remained the primary source of sports betting revenue, generating a total of $1.3m in July from $17.8m in overall sports wagers.

Retail revenue amounted to $915,582 as more consumers returned to brick-and-mortar facilities, with $5.1m worth of bets placed in-person during the month.

Players won a total of $20.6m from sports bets across online and retail in July, while operators paid $151,919 in tax from sports wagering operations.

Prairie Meadows, partnered with William Hill, retained top spot in terms of both revenue and wagers place, posting $529,540 in revenue and a handle of $7.3m

Penn National Gaming’s Ameristar Casino Hotel Council Bluffs ranked second in revenue terms with $240,196 and a handle of $1.1m, followed by the Diamond Jo Worth Casino with $218,125 in revenue from $1.0m in total bets.

The Riverside Casino and Golf Resort posted $168,306 in revenue off $1.9m in sports wagers placed, while Wild Rose Jefferson, the operator under whose license DraftKings is active in the state, reported $164,535 in revenue and a handle of $2.8m, the second highest total behind Prairie Meadows.

Other stand-out performers included Isle Casino Hotel Waterloo with $151,166 in revenue and a handle totalling $1.9m, while the Horseshoe Casino Council Bluffs was the only other facility with revenue in excess of $100,00, reporting $121,824 and $809,954 in bets placed.

All other active casinos also posted positive revenue for the month, with the exception of Harrah’s Council Bluffs Casino & Hotel, which recorded a $7,884 loss for the month.