RubinBrown Gaming Stats 2011

Adjusted Gross Receipts by Region

In the spring of 2010, the Iowa Racing and Gaming Commission reviewed proposals for the expansion of four additional licenses. In May 2010, the board accepted one proposal, expanding the number of river boat gaming licenses to fifteen. The new property, the Grand Falls Casino and Resort, is scheduled to open in Larchwood, Iowa, by summer of 2011 and is located in northwest Iowa near the Minnesota and South Dakota borders. The casino’s location is not expected to significantly impact the revenues of existing Iowa commercial casinos and aims to draw patrons from tribal facilities located in Sioux Falls, South Dakota, which is located eight miles from the Grand Falls Casino location. The first six months of 2010 saw a 3.5% decrease in total revenues for Iowa casinos from the same time period in 2009. But the state’s casinos appear to have recovered slightly in the latter half of 2010, as the later six months produced a 1% revenue increase from the same period in 2009. Iowa’s casinos may have an increased tax burden placed on them in 2011, as the Governor of Iowa has proposed that the tax rate for casino revenue be raised from 22% to 36%. This tax increase was proposed in the governor’s budget at the beginning of 2011. Iowa State Legislators will take the governor’s proposed budget into account as they create the state’s budget over the next few months.

$500M

$333M

$167M

$0

Metropolitan Communities

Mississippi River Communities

Central Iowa Communities

2008

2009

2010

Adjusted Gross Receipts Analysis

$3K

$70.00

$2K

$46.67

$1K

$23.33

$0

$0

Metropolitan Communities

Mississippi River Communities

Central Iowa Communities

AGR per Square Foot

AGR per Patron

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