Nearly one-quarter of a billion dollars.

That’s the amount of money Prairie Meadows Racetrack and Casino has returned to Central Iowa for the benefit of our community since the casino opened nine years ago. To call it a cash cow is to understate its impact.

A cash cow? More like a herd.

And now there’s talk of bringing in some outside competition with the potential of draining those profits away. If Central Iowa’s gaming population is underserved, as some studies suggest, wouldn’t it be better to allow growth to occur at Prairie Meadows so profits can be returned for our benefit?

Prairie Meadows is the only casino in the state of Iowa (except for Dubuque Greyhound Park) that is operated by a local, not-for-profit group with a board composed of volunteers. That means that once taxes and other obligatory expenses are paid, every dollar of profit goes back to the local community.

Since opening in 1995, if Prairie Meadows had provided Central Iowa civic and charitable organizations the same percentage of gaming revenues as other Iowa casinos have given their communities, the total would equal just over $36 million. Because Prairie Meadows is operated as a not-for-profit, it has provided $198 million more than that.

This is not to discredit the other Iowa casinos, which do tremendous work in their respective communities. But as the demand for funding grows among deserving organizations, charities and communities, it is imperative that we address how best to maximize the number of dollars available.

The Prairie Meadows model has already provided us with the answer.

One need only look around to see the kind of impact Prairie Meadows dollars provide to the community: $1 million toward the new downtown library, $125 million for the Iowa Events Center, $1 million earmarked for the new Science Center of Iowa, $1 million for the Drake Stadium project. And millions more have assisted worthwhile organizations such as The Heart Connection, Des Moines Playhouse, Boys & Girls Club of Iowa, the Cystic Fibrosis Foundation, Child Abuse Prevention Council, Food Bank of Iowa, Hospice of Central Iowa, OSACS Women’s Center, Orchard Place Juvenile Center, Willkie House, YWCA of Greater Des Moines, Urban Dreams, Variety – The Children’s Charity, the Des Moines Arts Festival and many, many more.

And let’s not forget the additional entertainment options that would be available if Prairie Meadows were able to operate the kind of facility that Central Iowans have been asking for. Imagine a full-scale entertainment facility that could attract visitors from across the Midwest, providing an even greater supply of tourist dollars that would have a positive economic impact throughout Greater Des Moines.

This isn’t an argument for or against gambling in Central Iowa. The Iowa Legislature, the governor, and the voters of Polk County have already determined that issue. The question before us now is, what is the most advantageous means of capitalizing on the profits that gambling revenues provide?

Any growth of the gaming market in Central Iowa that does not include Prairie Meadows in the equation will be a tremendous boon — for private investors in Nevada and New Jersey and California and elsewhere. Personally, I prefer to keep our money right here.

Rather than shoot the cash cow, I suggest we climb aboard and ride her for all she’s worth. Providing a larger meadow to do just that is a good place to start.

Merle Johnson is the mayor of Ankeny and the owner of Ankeny Tire and Battery Service. He served for 14 years on the Ankeny Plan and Zoning Commission, and 5½ years on the Ankeny Board of Education.