Friday, March 6, 2026 2:47 PM
Image aggregated from Des Moines Register.
After one of the lengthier closed-door meetings in its history, the 13-member board of Prairie Meadows Racetrack and Casino approved a final bonus for recently retired CEO Gary Palmer that was big ― but not as big as it could have been.
The board’s approval Tuesday, March 3, of a $210,000 “discretionary” bonus ― combined with a $684,000 bonus for meeting 2025 budget goals and a $760,000 annual salary ― means Palmer closed out his nearly 20-year tenure at the Altoona racino with $1.65 million in total compensation for 2025. The maximum he could have made was $1.9 million.
Board Chair Steven Neville said the two-hour closed-session discussion that preceded the incentive vote reflected a desire to have more free-flowing discussion among board members before making such decisions. The bonus, he said, was based both on board members’ respect for 79-year-old Palmer as well as their other input.