Iowa Gov. Kim Reynolds today signed a bill into law that establishes a legal way to bet on professional, collegiate and international sporting events.

Representatives from both Dubuque casinos praised the move and confirmed their intentions to bring such wagering to their local facilities. 

“This is a big moment for us, it is a big moment for the Iowa gaming communities, and we look forward to the opportunity,” said David Strow, a spokesman for Diamond Jo Casino parent company Boyd Gaming.

 
THE BILL
Reynolds, a Republican, had declined to suggest whether she supported the expansion of gambling in Iowa. A press release issued at 4:25 p.m. Monday announcing the bill's signing did not include any comments from the governor.

The bill legalizes fantasy sports contests and internet fantasy sports betting but delays betting based on college sporting event statistics until May 2020.

The new law excludes betting on some events, including minor leagues and in-state college team players. 

Sports betting would be limited to those 21 and older, and the bill sets a 6.75% tax on net receipts. Taxes and licensing fees could bring in estimated annual revenue of $2.3 million to $4 million annually.

The law gives the Iowa Racing and Gaming Commission regulatory authority over sports betting. The commission regulates the 19 state-licensed casinos in Iowa.

The casinos also will contract with online and mobile application vendors to set up bets electronically.

The commission has been developing rules that will determine how sports betting will work at the casinos, online and through a mobile application.

LOCAL REACTIONS
Q Casino and Hotel CEO Jesus Aviles confirmed that the facility intends to offer sports betting, both in person as well as through a mobile phone app. 

Aviles said Q Casino plans to convert its sports bar into a sportsbook. Adjacent amenities such as a golf simulator and slot machines could be moved to create extra space.

“We will redesign the space to make it more comfortable and more welcoming,” he said. “You’ll definitely be able to tell it is a sportsbook once you get there.”

The Iowa Racing & Gaming Commission must sign off on any design plans before remodeling begins.

“We have been planning for this for a long time,” Aviles said. “I think it will take five or six months (before the sportsbook is ready). We will try to expedite that, but I don’t see us having our first bet before then unless something miraculous happens.”

The benefits of the new offering could trickle down to local government and nonprofits, he said.

The Dubuque Racing Association is the nonprofit license-holder for both Dubuque casinos. It operates Q Casino, a facility owned by the City of Dubuque.

Profits from Q Casino go to the city and area charitable organizations through a competitive grant process.

 
“How big of a difference we’ll see in terms of revenue, that remains to be seen,” Aviles said. “But obviously, anything that comes into our bottom line gets distributed to both the city (of Dubuque) and to local charities. We are hoping to they will see some benefits in that sense.”

Strow said Boyd Gaming plans to offer both mobile and in-person wagering in Dubuque.

He declined to discuss how, specifically, Boyd Gaming would implement sports betting, noting that such decisions would largely be dictated by how the Iowa Racing and Gaming Commission crafts its rules and regulations.

Strow signaled an intention to begin offering sports betting by the start of the football season, which kicks off in early September.

“We would like to see it implemented as soon as is practical,” he noted. “Football is obviously the peak season for sports betting.”

Boyd Gaming has operated sportsbooks in Nevada for more than four decades. Within the past year, it has introduced sports gambling operations in Mississippi and Pennsylvania.

While sports betting itself may not generate huge profits, it has the potential to boost the rest of Diamond Jo’s offerings, Strow believes.

“The real potential is as an amenity that can drive new people into the building,” Strow said. “Once they are on the property, they will spend money elsewhere.”

Strow said the creation of a sportsbook at Diamond Jo will lead to additional hiring, noting that the casino will “need folks to run the sportsbook.” He declined to estimate how many people would be hired.

This article is a reprint from TelegraphHerald.com.   To view the original story and comment, click here.