Iowa Casino Revenue Down 6.8% in November; Rhythm City and Wild Rose Buck Trend

Iowa’s 19 casinos recorded $130.8 million in revenue for November, down from the previous year’s figure of $140.3 million and representing a year-on-year decline of 6.8%. 

 The figures, published by the Iowa Racing and Gaming Commission, revealed that of the combined revenue, slots generated $117.8 million, down 7.4% year-on-year from $127.1 million. Table games also declined in November, dropping from $13.2 million to $13 million, a 1.2% decrease.  

 The disappointing revenue results come shortly after the Iowa Racing and Gaming Commission approved the takeover of Catfish Bend casino by Elite Resorts, along with the news that the Cedar Rapids casino is on schedule to open next year.  

Rhythm City and Wild Rose Clinton Buck the Trend 

The year-on-year revenue results from November make for grim reading for Iowa casino insiders, as 15 out of the 19 casino venues recorded declines, including the three biggest casinos in the state: Ameristar II, Horseshoe Casino Council Bluffs, and Prairie Meadows, which reported revenue falls of 13.4%, 14.5% and 5.8%, respectively.  

There were two notable exceptions that bucked the trend. Rhythm City Casino reported revenue of $9.2 million in November, up 4.1% from last year’s $8.8 million, and revenue was also up at Wild Rose Clinton, rising 2.3% from $2.5 million to $2.6 million. 

Elite Casino Resorts’ Acquisition of Catfish Bend Casino Approved 

The state’s gambling regulator, the Iowa Racing and Gaming Commission, has approved Elite Casino Resorts’ acquisition of Catfish Bend Casino and FunCity Resort in Burlington, Iowa.  

 Elite Casino Resorts has said it will rename Catfish Bend Casino as the Great River Casino Resort, as a reference to Burlington’s Mississippi River heritage. The Chief Executive Officer of Elite Casino Resorts, Dan Kehl, said that all current staff will be invited to continue in their roles, with access to company-wide training and expanded career opportunities. 

 According to the company, the acquisition will strengthen its presence in Eastern Iowa and create opportunities for regional entertainment and tourism partnerships. 

Cedar Crossing Casino on Track for December 2026 Opening 

Elsewhere in the state, construction of the Cedar Crossing Casino has reached a major milestone with the completion of the building’s shell after nine months of work.  

 The casino, which will feature 700 slot machines, 22 table games, a 1,500-seat entertainment venue, restaurants, an Arts and Culture Center, and a STEM lab, is scheduled to open in December next year, although some uncertainty remains regarding the precise date.  

 Kim Pang, the Vice President of Development at Peninsula Pacific Entertainment, which is behind the development, said that tourism and construction associated with the venue could bring one to two million people to the area.  

 What impact it will have on stagnant casino revenues across the state remains to be seen.