Bettendorf casino revenue up slightly in fiscal 2016, but number of gamblers falls to 16-year low

Bettendorf's gambling casino posted a slight increase in revenue in fiscal 2016, but the number of gamblers frequenting the Isle of Capri riverboat fell to 823,000, a 16-year low.

The slight uptick in revenues and decline in casino gamblers at the local casino reflected a similar pattern statewide.

Adjusted gross revenues at the state's 19 casinos were up 1.5 percent to $1.437 billion for the fiscal year ended June 30, while admissions fell by .04 percent to 21,538,433 during the 12-month period.

The Isle of Capri last month moved from its floating riverboat along the Mississippi River to a new land-based facility between the company's two riverfront hotels.

Casino officials believe the new $30-million casino and restaurants will reverse the steady decline in both admissions and revenues at the casino.

However, the new Isle casino faces increased competition from the new Rhythm City Casino which also opened last month at I-74 and I-80 in Davenport. Both the Isle and Rhythm City casinos have faced increased competition from the Jumer's Casino & Hotel in Rock Island and the roll out of video gaming machine in Illinois bars.

The state's gambling facilities paid $287 million in state taxes in 2016, a 3.35 percent increase compared with 2015 when $277 million was paid into state coffers.

CLICK HERE to download the full 2016 fiscal year gambling revenue report from the Iowa Racing and Gaming Commission.

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