Sports betting in Iowa crossed the $100 million threshold in handle last month and that was without some key players like BetMGM, which launched earlier this month. Wagers are expected to vault now that Gov. Kim Reynolds‘ stay on mobile registration has expired. Bookmakers captured $7.5 million on $105 million in bets in December. “What Iowa’s sports betting industry has achieved, becoming the seventh-largest market in the U.S., in spite of a significant handicap like in-person registration has been impressive,” said PlayUSA analyst Jessica Welman. 2020 handle reached $575 million despite Reynolds’ restriction and a depleted menu of collegiate and major-league sports. Online wagering is also expected to grow this year from 70.5% of the mix to something like Indiana’s 85%.
Iowa casinos had a relatively good December, down only 6% for a statewide gross of $121.5 million, driven mainly by a 22% revenue increase at the racinos. Ameristar Council Bluffs grossed $13 million, down 12%, Diamond Jo Dubuque slipped 17% to $5 million and Diamond Jo Worth gained 14% to end at $8 million. Isle Bettendorf grew 12% to $6 million while Isle Waterloo was flat at $7 million. Harrah’s Council Bluffs tumbled 32.5% to $4 million and Horseshoe Casino fell 20% to $13 million. The state’s top grosser was Prairie Meadows racino, plunging 25% to $14 million. The misfortunes of the big dogs were offset by success stories at small casinos that included a 54% moonshot at Rhythm City, closing the month at $10 million.
Ahh Covid 19… I think its time for the United States to make some moves, this ridiculous notion that a slow motion vaccine rollout is sufficient, acceptable, or sustainable is just ignorant and dangerous… At this point I am just not sure corporate America is 100% on board with ending the pandemic swiftly, certain companies and industries are currently killing it, the stock market is doing just fine as a whole. Why no outcry about shipping millions of doses to hospitals for it to sit in special freezers? I think the hotel, cruise ship, casino, and restaurant industries need to band together and demand action before its too late, the only path forward at this point for hospitality industries is to swiftly vaccinate the population, at the current pace it would be years, not weeks or months, to get it done. If the current lame duck President wants to do the right thing before his term runs out, he should start talking about this honestly and immediately invoke the Defense Production Act and get vaccine supply lines in swift order, Biden will do this on day one, he has a chance to get the ball rolling right now. There is no other path forward I am aware of, either this works or it fails and we fall down hard as a country. Las Vegas needs action, regional casinos need action, the entire tourism business needs action. This vaccine rollout disgusts me, I thought at least the United States could be exceptional one freaking time during this pandemic, the only exceptional things so far have been death, destruction, misery, and death…