Casino operators in Illinois reported solid revenues this June having managed to generate almost $111 million during the month. The revenue produced in June was slightly lower compared to May. However, it should be noted that it was a boost compared to June 2021.
According to the state’s gaming board, casinos in the state produced revenue worth $110.7 million, which was a small improvement compared to last year’s $105 million. This was an improvement of close to 5%. However, this was a small drop compared to last month’s revenue, which is to be expected during summer.
That’s because the summer months typically offer gamblers numerous entertainment choices, which leads many gamblers to seek elsewhere for entertainment. As the summer months begin to wind down, more people return to gambling halls, which automatically causes improved revenues.
In May, the Illinois Gaming Board recorded $116.6 million in casino gaming revenue. This was also a small decline as attendance in most brick-and-mortar venues fell across the state. In May, revenues dropped by 4.8% compared to April’s total of $122.4 million, which so far currently stands as the high-water mark for 2022.
As far as year-over-year comparisons are concerned, revenue in May 2022 grew by 8.9% compared to the same period last year. This year’s average revenue for each admission reached $146.56 compared to last year’s $155.92. In total, Illinois amassed $22.7 million in taxes, with close to $12.1 million being generated by Rivers Casino in Des Plaines.
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Rivers Casino still the biggest revenue generator
Last year, Rivers Casino invested approximately $87 million to expand its facility. The casino investment saw the addition of 78,000 square feet of space that will debut in 2 phases. The ground floor opened earlier this year with new slot and table games, as well as the addition of a new restaurant. The second phase is scheduled to open much later this year and will feature a 10,000-square-foot ballroom, which will be located on the second floor for purposes of live entertainment and private functions.
The casino opted to invest in its property in a bid to provide the guests with a wider array of dining amenities while offering customers more entertainment and gaming options. This expansion now means that Rivers is on track to become the first of Illinois’s existing 10 casinos to reach the maximum prearranged 2000 gaming positions. In June 2019, the Governor signed an expansion bill that saw the gaming positioned increased.
This explains why Des Plaines is currently the biggest revenue-generating brick-and-mortar casino in Illinois. So far, the casino has generated close to $300 million in casino gaming revenue through the first 6 months of the year. Furthermore, the millions in state taxes produced from the Des Plaines’ revenue also account for almost half of all the taxes collected from the casino venues in the state.
Between the table games and electronic gaming devices offered by the casino, Des Plaines produced about $46 million this June. Grand Victoria Casino, on the other hand, produced the second highest revenue in June with $11 million. Gaming at the Grand Victoria has been growing steadily over the last few months so much so that between January 2022 and May 2022, attendance in the casino had grown to 381,443 visitors.
Due to the high attendance, Grand Victoria has so far managed to generate approximately $64.8 million in proceeds in the months between January 2022 and May 2022. Its revenues for the same period in 2021 were much lower at $51.7 million. It is evident that post-pandemic, casinos are performing much better and will likely continue to improve performance as time progresses.
Video Game terminals are also on the up and up
The video gaming revenues in Elgin produced $8.9 million between January 2021 and December 2021 based on numbers from the Illinois Gaming Board. In 2022 though, revenues recorded between January and May this year have managed to reach $4.4 million. So far, the city boasts 171 video gaming terminals, which are located in approximately 32 businesses.
In June this year, the Gaming board recorded $327.4 million in combined revenue, which was acquired from casino gaming, as well as video gaming terminals. The slump in attendance discussed above was a major contributing factor to the 5.1% decrease in casino revenue. The gaming board recorded 745,546 admissions across the 11 venues, which was a slight drop compared to May’s attendance.
In June, video game terminals produced $216.7 million, which was a 6.4% drop compared to the $231.6 million that was produced in May. Even though an extra 163 machines was operating in June, the funds produced dropped by 6.3% to reach $843.7 million against the $900.8 million produced last month.
Illinois was able to collect close to $86 million in taxes from casino gaming and video gaming terminals, with $62.8 million being acquired from Video Game terminal play. Despite the drop in June, the state still collected taxes worth $23 million, which was an increase of 3%.
Out of all the casinos in the state, Bally’s Quad Cities was the only one to report a rise in attendance, which was an increase of 2%. In May, Bally’s Quad Cities admitted 57,660 individuals. Hollywood Casino Aurora, on the other hand, experienced the sharpest downturn when it admitted 65,042 gamblers in June, which was a 12% improvement compared to May.
Final Thoughts
Post pandemic, the casino industry in Illinois has done its best to bounce back and the results are evident. If one takes a closer look at some of the major gaming centers in the country that enjoy a large concentration of brick-and-mortar casinos, including New Jersey and Vegas, there has been a clear return to pre-pandemic revenues.
The Grand Victoria, which opened its doors to punters in 1994, is so far the leader of gaming and is easily one of the most successful riverboat casinos in the country. The opening of Rivers Casinos has also helped to boost the market even though Grand Victoria is consistently at the top of the most profitable casinos in the state.
