Iowa casinos on track for record 2008
14th January, 2008
Casinos in Iowa have reported record revenues over the past 12 months and see no sign of a slowdown in the booming market.
While the growth in online casino gambling has made a significant dent in many land-based facilities around the world, Iowans are reportedly clinging on to their old-fashioned 'real world' gambling habits.
Residents of the mid-western state, famed for its rolling corn fields and laid-back attitudes, reportedly pumped more than $700 million (£357 million) into casinos during the first half of fiscal 2008.
That marks a $43.1 million year-on-year increase and placed the industry well on track to break the record $1.32 billion total achieved during the 2007 fiscal year, which ended last April.
The Associated Press reported that much of the industry's growing revenue is due to the burgeoning popularity of riverboat casinos, which collectively made up more than $47 million this year.
Last week, Iowan state officials announced their plan to issue new licenses in order to encourage growth in the sector, which also relies heavily on native Indian American casinos.
