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Casino Revenue Stays Behind

Revenue at the state’s ten casinos nevertheless just isn’t meeting pre-recession levels.

Based on a year-end report issued by the Illinois Gaming Board, income for the 2012 calendar year was $1.six billion, that is up slightly from 2011, but down by about 38 percent from 2007.

Tom Swoik, director of your Illinois Casino Gaming Association, which represents the Metropolis casino, Harrah’s, stated the 2007 smoking ban and an economy that took a turn for the worst are two causes for the dip.

“Once the economy begins enhancing, I think that casino revenues will choose up,” Swoik said. “I consider it is going to be a long time if ever that we get back towards the 2007 figures because they’re not going to adjust the smoking ban.”

“All of your bordering states that have casinos don’t have a smoking ban, so we lost about 20 percent in 2008, and we’ve lost an extra 18 or 19 percent on leading of that due to the fact then simply because from the economy,” Swoik added.

Whilst the new Rivers casino in Des Plaines generated essentially the most income amongst the state’s ten gambling facilities, casinos in downstate Illinois, which include things like Alton, East Peoria, Rock Island, Metropolis and East Saint Louis, had a combined revenue of $38.five million.

The East Peoria Par-A-Dice casino reported collecting $116.2 million from gamblers in 2012, a significantly less than 1 percent enhance in the $115.5 million in 2011.

The Rock Island Jumer’s casino generated $87.8 million, a 2.3 percent increase more than 2011, according to the Gaming Board.

The Metropolis Harrah’s casino collected $97.6 million in 2012, a two.3 percent enhance from $95.4 million in 2011.

State Rep. Brandon Phelps, D-Harrisburg, mentioned the Metropolis casino also sees competition from bordering states, for example the Isle of Capri casino in Cape Girardeau, Mo., that opened late final year.

“A great deal of persons wanted to smoke while they gambled, and now considering that the smoking ban in Illinois, you can’t do it, they’ve been going to other states,” Phelps mentioned.

The annual numbers had been reported as efforts to expand gambling in Illinois could again be a focal point within the spring legislative session. A program to add 5 casinos towards the state’s current fleet of ten, like one in Chicago, is pending prior to Gov. Pat Quinn. The strategy also would enable horse tracks to add slot machines.

“I would appear at something suitable now that is going to bring in income to the state,” Phelps stated. “We require it.”

Swoik, who lobbies for the state’s existing casinos, said adding casinos and slot machines at horse tracks within the Chicago area may very well be an “oversaturation of your marketplace.”

“We’re not opposed to casinos in new markets like Rockford or Waukegan or Danville. We’re not even opposed to a casino in (downtown) Chicago. … We’re very opposed for the slots plus the race tracks simply because every race track is inside about 5 or 10 minutes of just about every existing casino,” Swoik mentioned.

 
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