Nebraska’s launch of legal casino gaming has impacted casinos in the neighboring state of Iowa. As reported by the Omaha World-Herald, two big Council Bluffs casinos have been recording lower revenues – an impact that was also outlined in the American Gaming Association’s (AGA) Q3 revenue report.

Eastern Nebraska launched slot gaming in late 2022, following the legalization of casino-style gambling at horse racing tracks in 2020. This appears to have quickly impacted gambling revenues in Iowa, proving the Nebraska Horsemen’s Benevolent and Protective Association’s claim that much of the money in Council Bluffs’ casinos is spent by Nebraskans.

The aforementioned group represents the interests of Nebraskan horse owners and trainers and was a fervent supporter of the legalization of casino-style gaming in the state.

Iowa Expected the Impact

In the meantime, the impact of gaming in Nebraska was not entirely surprising to Iowa. The Iowa Racing and Gaming Commission pointed out that locals have expected the Council Bluffs market to go down following the launch of gambling in the neighboring state.

For reference, Iowa’s regulator said that Ameristar, Harrah’s and Horseshoe reported $460 million in revenue in FY 2022-23, down 3% ($13.2 million) year-on-year. However, the first four months of FT 2024 alone saw the three Council Bluff casinos record a decline of $10.9 million.

For reference, Ameristar recorded a decline of $2.1 million. Horseshoe got the worst of it, with revenue for the period plummeting by $9.2 million year-on-year. Harrah’s was the only property to remain somewhat stable, reporting a modest increase of $400,000 for the first four months of FY 2024.

The Full Extent of the Impact Is Yet to Be Seen

Further revenue decline may await Iowa’s casinos as the property expected to have the profoundest impact on Council Bluffs is not completed yet. This is the WarHorse Omaha property, which would completely refurbish Horsemen’s Park, turning it into a very attractive gaming destination.

WarHorse Omaha’s casino operations should launch by autumn 2024 and, according to the Iowa Racing and Gaming Commission, will further add to Council Bluff’s woes. The Omaha World-Herald added that an earlier study expects Council Bluffs’ casinos to lose as much as $183.9 million in adjusted gross receipts once Nebraska fully powers its gambling operations.

The World-Herald also spoke with Nebraskan bettors who confirmed that the new casinos are much more convenient to them. In addition, some customers appreciate the fact that their gambling money is not leaving the state.

Despite that, costs, payouts and the overall experience are higher priorities for many bettors. This means that Iowa casinos still have a chance to channel customers toward their properties by offering great gaming experiences.

The Iowa Racing and Gaming Commission concluded that local properties will continue to invest in ramping up the experience to retain their competitive edge.

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The University of Iowa has announced that 11 of its current student-athletes are set to face NCAA eligibility impacts in the aftermath of a comprehensive sports wagering inquiry that spanned over three months. The Iowa athletics department unveiled the reinstatement “determinations” by the NCAA Student-Athlete Reinstatement (SAR) staff in a press release on August 22.

Athletes Not Linked to Probe Await NCAA Verdict

While the identities of the affected athletes are yet to be disclosed, the university has clarified that the release of specifics will be contingent upon receiving consent from the individuals involved, as required by the Family Education Rights and Privacy Act (FERPA). The institution is striving to adhere to legal and ethical considerations while sharing information.

The NCAA had introduced revised guidelines earlier in the summer, outlining a spectrum of penalties ranging from mandatory sports wagering education to the potential forfeiture of collegiate eligibility for good. The consequences appear especially dire for current Iowa football players Aaron Blom, a kicker, and Jak Johnson, a wide receiver, both of whom face allegations of tampering with records and accusations of placing bets on their own team.

The gravity of the repercussions remains unclear for athletes not implicated in the ongoing criminal probe. Iowa’s interim athletics director, Beth Goetz, stated last week that while the prescribed penalties are widely known, the NCAA’s approach typically includes factoring in mitigating circumstances that could have contributed to the violations.

Iowa Universities Grapple with Gambling Scandal Fallout

The University of Iowa’s response to the NCAA’s decisions underscores its commitment to the well-being and rights of its student-athletes. The institution is firmly in favor of those individuals opting to appeal the SAR staff’s decisions. The university pledged to provide unwavering support to student-athletes pursuing the appeal process.

The ripple effects of the investigation have extended beyond the confines of Iowa City. Iowa State University is facing a similar gambling inquiry, with approximately 15 student-athletes reportedly under scrutiny. However, as of the most recent update, the school has not made any announcements concerning eligibility determinations.

Last week Iowa State University’s football program faced turmoil as starting defensive lineman Isaiah Lee departed amid an ongoing gambling investigation. Lee, accused of betting on Iowa State sports, including games involving his own team, potentially jeopardizes his athletic eligibility under NCAA regulations. The scandal has impacted other players, including quarterback Hunter Dekkers, prompting the university to collaborate with the NCAA to address eligibility concerns.

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Legislators in the state of Iowa have introduced a new bill that seeks to regulate online casinos. Right now, online sports betting is legal but online casinos are yet to foray into the Hawkeye State.

This will cement Iowa as the seventh state that allows iGaming in the United States. While online sports betting continues to be proliferated, iGaming remains restricted to a handful of states. The markets where online casinos are legal currently include Connecticut, Delaware, Michigan, New Jersey, Pennsylvania and West Virginia.

Right now, Iowa’s land-based industry supports 17,420 jobs and has an estimated commercial impact of $2.8 billion. Online casino gaming is expected to bolster these numbers.

Operators Will Be Able to Launch 1-3 Brands in the State

The measure, nicknamed House Study Bill 227, would allow gambling companies to launch their products in the state through agreements with local entities. Companies that wish to offer their products in Iowa must pay $45,000 for a license. Once licensed, gambling firms also have to pay an annual renewal fee of $10,000 to keep offering advance deposit gambling games in the state.

If passed, the bill will allow operators to launch one or two of their brands in Iowa. Under certain circumstances, the Iowa Gaming Commission may authorize companies to launch a third brand, the bill reads.

Iowa Will Prioritize Player Safety

As defined by the bill, “advanced deposit gambling games” are a type of wagering on games where the player may deposit money into an account and leverage that account balance to participate in games of chance. These games, the House Study Bill 227 clarifies, are online games played by electronic means, such as tablets, smartphones and computers.

The bill would allow an eligible individual, defined as an individual 21 years of age or older who is located within this state, to placed an advanced deposit gambling games wager from any location within this state by telephone, a computer, through the internet, or by other electronic means.

House Study Bill 227 excerpt

In addition, the bill starts by pointing out that a process by which a person can exclude themselves from gambling will be established. Iowa’s self-exclusion scheme would see participants cut themselves off from gambling for five years. Subsequent self-exclusion requests following the expiry of the initial period would see players excluded for five more years.

In addition, the bill, if passed, would require licensees to provide their customers with the problem gambling information needed to make informed decisions. Furthermore, companies should have built-in tools that help players moderate their spending and playtime.

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