DES MOINES, Iowa, May 12 (UPI) -- Gambling supporters say four casino licenses approved by the Iowa Racing and Gaming Commission will generate $40 million a year in new state tax revenue.
Iowa gambling regulators awarded licenses for casinos in Waterloo, Emmetsburg, Riverside and Worth County Wednesday. Applications were denied for Fort Dodge, Ottumwa, Franklin County and competing projects in Waterloo and Emmetsburg.
Gaming consultants hired by the state say the casinos will generate more than $200 million in gross gambling revenue a year. Iowa already has 16 casinos.
"This is going to be the biggest economic boom for Waterloo since John Deere came," Don Hoth, president of the nonprofit Black Hawk County Gaming Association, told the Des Moines Register.
The association is building a $118 million casino with Mississippi-based Isle of Capri Casinos.
The four new casinos are expected to create about 2,000 jobs in 18 months to two years, officials said.
