Dubuque casinos report strong February

The latest figures were presented during the Dubuque Racing Association's monthly meeting at Mystique. The DRA holds the license for casino-gaming operations of Mystique and is the co-licensee for Diamond Jo Casino. The numbers represented a rare piece of good news in the Dubuque gambling market, where casinos saw revenue fall by 6.5 percent, to US$ 113 million, in 2014.
Aviles said much of this increase is the result of better weather this winter, but he also expressed optimism that the industry could build on its early momentum in the coming months. "It is definitely a good thing to start a year off this way, and we are hoping for a nice March to finish off the first quarter strong," he said.

Diamond Jo earned 54.4 percent of the market share with revenues of US$ 4.77 million last month. Mystique reported US$ 4 million. Aviles on Tuesday also caught DRA members up to speed on a pair of legislative issues that might impact the gambling industry.

He offered support for a bill that would phase out taxes casinos pay on promotions to attract customers. Currently, casinos must pay a 22 percent tax on any promotional items - such as a U$ 10 card for free slot machine play - issued to customers. While the change would save money for casinos, Aviles said it wouldn't be too detrimental to the state.

"It would decrease dollars going to the state at first, but the promotional pay would bring more people into these facilities, so it would ultimately be a wash," he said. The gambling industry also is keeping a close eye on a bill that would allow Iowans playing in fantasy sports leagues to claim prizes and cash.

Aviles believes "the ship has already sailed" when it comes to casinos benefiting from fantasy sports. However, he thinks that Iowa casinos could benefit if Las Vegas-style betting on sports were legalized. "I think sports betting is going to be mainstream in a couple of years in the United States," he said.

During Tuesday's meeting, representatives from Honkamp Krueger presented findings from the DRA's annual audit. Laura Walker, a partner with Honkamp Krueger, noted it has been a busy year for the DRA. "The two bigger things were the end of the dog racing, and the second was the acquisition of the hotel (Hilton Garden Inn) and restaurant (Houlihan's)," she said.

Honkamp Krueger gave the DRA an "unqualified opinion," meaning the firm believes the organization's financial statements are sound.