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Prairie Meadows Raceway is located in the Altoona, Iowa. Altoona is in Polk County, about five miles from Des Moines. The city has a population of 10,351 and one of the lowest city tax rates in the metro area. Prairie Meadows is a young racecourse. It was granted a horse-racing license from the Iowa State Racing Commission in 1984 and in 1987 a groundbreaking ceremony was held for Iowa's first racehorse facility.
From 1994-2004, residents of Altoona witnessed a massive renovation to Prairie Meadows, including the building of a $26-million casino expansion project and the addition of table games.