Slot Machines are Financial Drain

Ever since the Riverside Casino and Golf Resort opened their new slot machines in Washington County, Iowa, the Quad-city slot machine casinos have been feeling the drain on their finances. They have only had two months of full operations, and yet two of the slot machine casinos have already felt a major loss. Isle of Capri has lost over $2 million, and Rhythm Casino lost over $1.6 million. Both have lost thousands of customers to the new slot machine casino, and they fear it will only get worse from here.

A state analysis done by the Racing and Gaming Commission says that both the Bettendorf and Davenport slot machine riverboats (Isle of Capri and Rhythm City Casino respectively) will feel an income drop of roughly 4% of their slot machine and gaming income. So far those figures for September and October are actually coming in much higher, with Bettendorf losing 12 and 12.7% and Davenport losing 9.9 and 15%.

According to the Iowa Racing and Gaming Commission:

Bettendorf: 09/05:     $8.506M

                        10/05: $8.301M

                        09/06: $7.488M

10/06: $7.251M

Davenport:     09/05: $6.634M

                        10/05: $6.474M

                        09/06: $5.797M

                        10/06: $5.504M
 

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