March 16, 2020 casinos started closing due to the Covid-19 health pandemic. Casinos started reopening on June 1, 2020.
Legislation enacted during 2020 Legislative session:
- Clarified state debt setoff list must be checked when an IRS W-2G form must be completed for slots, table games, sports wagering, or pari-mutuel winnings.
- Clarified that prohibition against credit cards includes sports wagering and fantasy sports contests.
Legislation enacted during 2021 Legislative session:
- Changed the definition of adjusted gross receipts to include promotional play receipts on gambling games until June 30, 2026. Starting July 1, 2021, promotional play receipts on gambling games will be taxed at a decreasing rate until they are no longer included in adjusted gross receipts.
- Changed the definition of sports wagering net receipts to indicate that promotional play receipts are no longer included.
Legislation enacted during 2022 Legislative session:
- Added the option to wager on a “sports-related event”, which means an event that takes place in relation to an authorized sporting event, but that is not tied to the outcome of a specific athletic event or contest as authorized by the commission. “Sports-related event may now include qualified professional sports drafts and individual player awards.
- Changed the requirements for an occupational license to those persons performing the administration, control, and conduct of gambling games and sports wagering.
- Added an alternative simulcasting license. An entity that has entered into an agreement with the Iowa horsemen’s benevolent and protective association for source market fees related to simultaneously telecasting horse or dog races may apply for a license to conduct pari-mutuel wagering on simultaneously telecast horse or dog races.
- Passed a moratorium on new gaming licenses for two years.
- Iowa race horse aftercare organization assistance fund created.
In August 25, 2022, the Commission approved the acquisition by Churchill Downs, Inc. of the parent company of SCE Partners, LLC (Hard Rock Hotel and Casino).