Iowa casinos generate $1bn for state

2007-04-20 15:39:39

Leaders in Iowa are hailing the valuable contribution of the state's casinos to the local economy.

The Des Moines Register reports that over $1 billion went into Iowa state coffers through taxes in 2006.

Jack Ketterer, administrator of the Iowa Racing and Gaming Commission, told the newspaper that the figure was highly encouraging.

Mr Ketterer commented that the total tax paid by Iowan casinos last year amounted to $1.15 and he hailed the fact that such a significant proportion of this money had remained within the state itself.

A part of the increase in revenue, state officials informed the Register, is due to fact that 13 riverboat casinos and two racetrack facilities opened during the past year.

Some of the $1 billion came from direct gaming-related taxes, but the majority was from local products and services bought by Iowa's casinos.

The future looks rosy for the Iowa gaming industry.

The new Waterloo casino is due to open on July 1st and, following recent state legislation, it is no longer a legal requirement for riverboat casinos to be literally waterborne.

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