Casino news source: Globe Gazette - http://www.globegazette.com/
Horseshoe Casino leads Iowa casinos in revenue
COUNCIL BLUFFS (AP) — Council Bluffs’ Horseshoe Casino continued to lead Iowa’s casinos in gaming revenue, hauling in more than $17.3 million in adjusted gross gaming receipts during December.
That’s according to figures released by the Iowa Racing and Gaming Commission, which show receipts up from more than $11 million in December 2005, when the venue operated as Bluffs Run Casino before an $84 million expansion and renovation.
Iowa’s casinos collected $113 million in gaming revenue in December, overall, paid more than $23 million in state tax.
That compared to $89.9 million in revenue and $18.2 million in state tax during the same month in December 2005, when three fewer casinos operated in the state.
Prairie Meadows Racetrack and Casino in Altoona posted gross gaming revenue of $16.8 million last month, up from $14.7 million for the same month last year.
Another casino in Council Bluffs, Ameristar Casino and Hotel, saw a slight dip in receipts with $15.3 million for the month compared to December 2005’s $15.4 million.
Harrah’s Casino Hotel saw a bigger drop, to $8.6 million in gaming revenue for December 2006 from $10.3 million a year earlier.
The market’s gross gaming revenue of $41.2 million was an increase of 12 percent over the previous year’s $36.7 million.
Creighton University economist Ernie Goss, who is publishing a book on casino gaming next month, said the numbers show a healthy increase.
“Nationwide it doesn’t grow at that rate,” Goss said. “That’s a healthy increase and faster than national (growth rates).” |
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