DES MOINES - Iowa's state-licensed gambling tracks and casinos are weathering the economic recession without going bust.

Combined total revenues at the state-licensed venues made modest gains between July 1 and the end of December compared to the same six-month stretch in 2007, according to figures released by the Iowa Racing and Gaming Commission on Monday.

However, revenues fell in more than half of the state-licensed gambling institutions during the last six months compared to the same period the year before, and observers say that's evidence that the recession has taken a toll on the industry.

Iowa's three state-licensed race tracks posted combined revenues of about $229 million between July 1 and the end of December, a jump of $4 million from the same six months last year.

Of the three licensed racetracks, only Horseshoe Casino and Bluffs Run Greyhound Park in Council Bluffs saw revenues dip compared to 2007.

But nine of the 14 state-licensed riverboats saw their revenues decline compared to the July-December stretch of 2007.

The 14 licensed riverboats posted total revenues of about $474 million, an increase of about $200,000 compared to the six-month span in 2007.

Jack Ketterer, administrator of the Iowa Racing and Gaming Commission, said the dips in revenue at many of the state's gambling establishments indicate that the industry isn't immune to the faltering economy.

"At this point, I'm just surprised that they haven't shown more weakness," Ketterer said.

He said the December gambling revenue totals will be made available to two consulting firms that are currently forming studies to determine if there are markets in Iowa that could support expanded gambling opportunities.

Members of the Racing and Gaming Commission will draw on the studies, which were approved in November, when considering new gambling licenses that could lead to the construction of more casinos.

Iowa Senate Majority Leader Mike Gronstal, D-Council Bluffs, said he doesn't foresee the Legislature getting involved in any debates regarding whether the state could support more casinos.

"We have fiercely resisted any effort for us to become, in essence, the licensing entity and designate where gaming will go. We feel it's appropriate for that to be a step or two removed from politics and have a racing and gaming commission that makes those judgments," Gronstal said.

Contact Fred Love at (515) 422-9048

or fred.love@lee.net.