A new state report shows that's $22 million less than the industry spent in 2009 and the lowest spending in five years.
The report says the spending had exceeded $1 billion a year from 2006 through 2008.
Wes Ehrecke is president and CEO of the Iowa Gaming Association, an industry trade group. He says the lower spending reflects the state of the economy. He says that as people have tightened their budget belts, so have the casinos.
Gov. Terry Branstad has proposed raising state casino taxes to help replace state revenue from cutting corporate income taxes.
State records say gross gambling revenue at Iowa's casinos fell 3.5 percent for the state fiscal year ending June 30.
(Copyright 2011 by The Associated Press. All Rights Reserved.)
< Prev | Next > |
---|