State gambling revenues up slightly for fiscal 2015; but Bettendorf Isle casino continues downward slide

Iowa gambling revenues for fiscal year 2015 increased slightly thanks to a new casino property in Sioux City, but the decade long decline in admissions and revenues continued at Bettendorf's Isle of Capri riverboat.

Revenues for the fiscal year were down 2.4 percent to $68.5 million, while admissions at the Bettendorf casino dropped more than 8 percent to 848,000 gamblers during the 12-month period.

Compared with its peak in 2004, revenues at the Isle casino are down 35 percent. Admissions at the riverfront casino have fallen nearly 60 percent since its peak of 2.02 million visitors in 2000.

Isle of Capri Casinos, Inc. recently announced plans to build a $30-million, land-based casino in between its two hotels along the riverfront. Construction has begun and the move from the docked riverboat to the new casino facility is expected early next year.

A new land-based casino is under construction near I-74 and I-80 in Davenport with completion also expected next year.

Both the Davenport and Bettendorf casinos hope the new land-based facilities will enable them to compete better with the land-based Jumer's Casino and Hotel across the Mississippi River in Rock Island.

For fiscal 2015, gambling revenues from Iowa's 19 casinos and racetracks totaled $1.42 billion, a 2 percent increase from the previous 12-months. That's down from the peak of $1.46 billion in revenue set in fiscal 2012.

The state received more than $277 million in gambling taxes during fiscal 2015.

CLICK HERE to download the full fiscal 2015 gambling revenue report from the Iowa Racing and Gaming Commission.

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