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November 28, 2009

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Riverboat, track business up

Tuesday, July 8, 2003 | 9:51 a.m.

DES MOINES, Iowa -- The state may have had a sluggish economy over the past year, but Iowa's casinos didn't.

The state's riverboats and racetracks took in a record $980 million in casino revenue during the past 12 months, up from $960 million the year before.

"Given the economic situation, it would certainly appear that the casinos are holding their own. They are certainly doing better than some other businesses," said Michael Mahaffey, chairman of the Iowa Racing and Gaming Commission.

Casino admissions totaled about 19.2 million for the 12 months, down about 843,000 patrons, or about 4.2 percent, from a year ago. But revenue increased because the average gambler lost $51 per visit, up $3 from a year ago.

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