Gamblers visiting the Isle of Capri riverboat casino fell to a five-year low in 2006 while gambling revenues at the Bettendorf riverboat declined below its 2002-03 level, according to the most recent annual report by the Iowa Racing and Gaming Commission.
For fiscal 2005-06 ending July 31, the Isle of Capri had 1,612,809 admissions with adjusted gross revenue of $98.7 million. That compares to 1,797,773 admissions and revenues of $97.9 million in 2001-02.
Admission data for the past five years shows a steady drop at the Isle of Capri, falling more than 10 percent from the 2001-02 level. Gambling revenues at the Isle peaked at $105 million in 2003-04 and have declined the past two years. Revenues during the last fiscal year were off more than 6 percent from the 2003-04 high.
Reflecting the overall decline in revenues, the gambling taxes paid to the City of Bettendorf in 2005-06 were down 6 percent from 2003-04. The city received $527,080 in gambling tax revenue in 2003-04, compared to $493,436 in the most recent fiscal year. Scott County saw the same drop in gambling taxes as the city.
Meanwhile, the state's gambling take increased slightly compared to 2003-04. The state received $19.94 million from the Isle of Capri in 2003-04, compared to $20 million in the most recent fiscal year. The state tax paid by the boat was virtually the same, but the regulatory fee was $100,000 higher last year, compared to 2003-04.
The Isle of Capri's other Quad Cities gambling boat, The Rhythm City Casino in Davenport, showed similar declines in attendance falling from a high of 1,575,669 admissions in 2001-02 to 1,355,165 in 2005-06. Revenues at the Rhythm City peaked in 2004-05 at $78.2 million and declined to $77.3 million in the latest 12-month period.
Bettendorf riverboat casino admissions (adj. gross revenue)
2005-06 - 1,612,809 ($98.7 million)
2004-05 - 1,750,797 ($103.9 million)
2003-04 - 1,764,844 ($105.4 million)
2002-03 - 1,759,816 ($99.6 million)
2001-02 - 1,797,773 ($97.9 million)
2000-01 - 1,870,810 ($93.5 million)
1999-00 - 2,018,936 ($89.4 million)
1998-99 - 1,944,630 ($84.9 million)
1997-98 - 1,717,663 ($73.8 million)
1996-97 - 1,778,387 ($67 million)
1995-96 - 1,443,113 ($55.7 million)
Note: The figures for 1995, 1996, 1997 and 1998 are for operation of the Lady Luck Casino (predecessor to the Isle of Capri Casino Riverboat). Source: Iowa Racing and Gaming Commission.
