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The Iowa Racing and Gaming Commission recently disclosed its sports wagering data for June, showcasing a mixed bag of results for the state’s betting enthusiasts and operators.
In June, Iowa sportsbooks recorded a total handle of approximately $147 million, indicating consistent betting activity across the state. However, compared to the previous month, revenue saw a decline, dropping by nearly $36 million.
Despite the revenue dip, Iowa bettors enjoyed significant winnings last month, totaling close to $134 million from their wagers. A substantial portion of these winnings, about $125 million, came from bets placed through online platforms.
Nineteen different operators facilitated sports betting activities in Iowa during June, collectively handling nearly $137 million through online channels alone. This robust activity contributed approximately $0.8 million in taxes to the state’s coffers.
In other developments, the Iowa Racing and Gaming Commission convened to deliberate on a fresh casino proposal for Cedar Rapids. Spearheaded by the Linn County Gaming Association and Peninsula Pacific Entertainment, this initiative aims to introduce a new casino to the Cedar Rapids vicinity.
The consortium has diligently prepared its application over the past two years and is poised to submit the comprehensive proposal by the end of this month, as affirmed by a spokesperson from the development group and Linn County Gaming Association.
The recent expiration of Iowa’s two-year moratorium on new gaming licenses has paved the way for the Cedar Rapids project to progress. Previously, the city encountered resistance in its efforts to establish another casino, but current circumstances appear more favorable for advancing this endeavor.