Admissions and revenues at Bettendorf's Isle of Capri Casino fell to lows not seen since the launch of its predecessor Lady Luck Riverboat Casino in 1995 after the COVID-19 virus shuttered the facility for two and half months this spring.
For the 12-months ended June 30, the Isle – now owned by Eldorado Resorts, Inc. – reported gross revenue of $51.2 million and admissions of 627,436. That would be the lowest revenue and admissions since the fiscal 1995 results when the Lady Luck Riverboat generated $10 million in revenue and attracted 325,698 gamblers in operating less than three months.
In its first full year of operation in fiscal 1996, the Lady Luck had 1.44 million admissions and total adjusted gross revenue of $55.7 million.
The high water mark for the Bettendorf casino was in fiscal 2000 with 2.02 million gamblers. The casino's highest annual adjusted gross revenue was $105.4 million back in fiscal 2004.
Because of the pandemic, the casino was ordered closed March 17 and was not able to reopen until June 1.
The closure similarly impacted all casinos in the state. Admissions during the fiscal year ended June 30 fell more than 22 percent while revenues dropped more than 21 percent compared to the same 12-month period the previous year, according to reports filed July 9 by the Iowa Racing and Gaming Commission.
The revenues do not reflect the new sports wagering and fantasy sports contests which casinos are now permitted to offer.
Last year, the Isle handled more than $11 million in sports wagering, including more than $7 million from Internet betting.
The Davenport Rhythm City Casino reported 983,885 admissions in fiscal 2020 with annual adjusted gross revenue of $64 million.
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