Iowa Nonprofit Casinos Paid Leaders More than $650,000

The chief executives of Iowa’s two nonprofit casinos, established to channel millions of dollars in gambling revenue to charities in their communities, each received more than $650,000 in compensation in 2012, according to the Des Moines Register.

Prairie Meadows Racetrack and Casino in Altoona paid CEO Gary Palmer $652,747, a 62-percent increase from 2008, according to tax records. The total included a $149,800 bonus approved by the casino’s board last January after a year in which donations dropped and expenses grew faster than revenues. Jesus Aviles, head of the smaller Mystique Casino in Dubuque, earned $708,899 in 2012, more than a third of it from a bonus and incentive package.

Prairie Meadows sent some 40 board members, employees, and spouses to a major gaming expo in Las Vegas in September, the Register also reports.

Mystique and Prairie Meadow officials said they use comparison studies to determine executive compensation and that they need to offer wages competitive with those at for-profit sites to attract top talent. Charity advocates and watchdog groups criticized the pay and perks, saying they drain money from the casinos’ philanthropic purpose.