Chicago, Ill. – Casinos in the Windy City have seen a decrease in their revenue for the month of April, as the trend of falling gaming revenue for casinos continues.
According to a report from the Illinois Gaming Board, Illinois’ 15 casinos generated $136.6 million in revenue, down 10.3% compared to March’s total of over $152.3 million. This dip was expected, since March is usually the month when gambling activities tend to ramp up due in large part to the mens and womens’ NCAA tournaments being held during the said month.
Which Casinos Were Impacted the Most or Least In April?
Among the casino operators in the Windy City, Harrah’s Metropolis Casino was the only property in the state that saw their revenue increase from the month of March. The casino’s revenue rose from $5.3 million in March to $5.5 million in April, a 2.9% increase.
Bally’s Chicago also did fare a bit better compared to the other casinos, posting just under a 7% decline, while its top competitors (casinos that consistently earn $10 million a month) all posted losses of at least 8%. This includes Harrah’s Joliet Casino & Hotel, Grand Victoria Casino, and Rivers Casino.
On the subject of Rivers Casino, the total revenue posted by the city’s top casino operator hovered around $42 million during the month of April, an -11.60% decrease in month-to-month change compared to March when it raked in $47,785,900.85. That said, Rivers Casino is still considered to be the most popular casino in the state, so the decrease isn’t too concerning for the operators.
Most of the casinos have suffered double-digit loss in revenue for April, including Harrah’s Joliet Casino & Hotel, Hollywood Casino Joliet, Par-A-Dice Hotel Casino, Golden Nugget Danville, and Bally’s Quad Cities Casino & Hotel.
Casinos that had single-digit losses in revenue include Grand Victoria Casino, Hard Rock Casino Rockford, and Hollywood Casino Aurora.
What Does This Mean for Online Casinos in Illinois?
Earlier this month, legislators have introduced HB2239 to the Illinois House Gaming Committee, and is still awaiting for its time to be talked about by the concerned parties. HB2239 is also known as Illinois’ Internet Gaming Act bill, and if it is approved, it would allow the state’s casinos to offer online casinos through up to three partners. The tax rate would be 15%.
SB1656, also known as The Internet Gaming Act, is the Senate’s version of the online casino bill and is currently on its 3rd Reading Deadline as of May 17, 2024. Early projections suggest that Illinois could actually become the top online casino industry in the country. Pennsylvania currently holds that distinction, but Illinois could create a similar market.
On top of this, HB5307, also known as the Problem Gambling Task Force Bill, is also awaiting any progress after it was re-referred to Rules Committee back in April.
In the event that Illinois lawmakers approve the operations of online casinos in the state, the Windy City will become the eighth state to do so. They will join the ranks with New Jersey, Michigan, Pennsylvania, Connecticut, Delaware, West Virginia, and Rhode Island.
Rhode Island is the latest state so far to legalize online casinos and iGaming.
Last Updated on by jonathan r
