Sports bettors in Illinois wagered more than $764 million according to reports from the Illinois Gaming Board. This amount was a far cry compared to what the state managed to generate in March. This March, punters in the state broke records when sportsbooks in the state generated close to $1 billion thus setting a new state record for a monthly handle.
The eradication of in-person registration is believed to have played a major role in the surge. But March Madness helped too. In March, sportsbooks generated $971.3 million in bets, which was an increase of more than 50%. March’s new record-breaking handle shattered the previous record of $867.5 million, which had been set at the beginning of the year in January.
In March, sportsbooks managed to generate approximately $79.4 million in gross revenue, which was a rise of 59.2%. March was an important month in the state’s gambling history as it marked the first month of gaming after the permanent elimination of in-person registration guidelines for online gambling, which was made official on March 5.
In comparison this May, the revenue experienced a slump owing to the slow sports betting schedule that is characteristic of summer. Since the sports betting schedule is not as packed as it has been in the earlier months of the year, the revenue took a hit in May.
As you can expect, most of the wagers placed in May were online. Owing to the $764 million handle generated in May, the state produced a revenue of $65 million. Consequently, this amount also allowed the state to walk away with taxes worth close to $11 million.
In May, the NBA served as the biggest crowd puller despite the Bulls failing to make it far enough in the playoffs. Had the Bulls succeeded in their quest, May’s revenue numbers would have been a lot higher. Thankfully, punters in Illinois still managed to place a god number of bets; $191.2 million worth to be precise.
The baseball season was also underway in May and will continue to provide punters with an array of gambling options long into the summer months. Even though punters will have to contend with the slow summer months, there is no denying that Illinois is still one of the most established sports betting markets in the country.
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Casino revenue slightly down in May
Casino revenue in Illinois dropped by close to 4.8% in May compared to the $122.4 million generated in April. In May, the state’s 11 casinos managed to produce close to $116 million. Revenue from video game terminals, on the other hand, reached $231.6 million, which was still a month-on-month decline.
In Illinois, casino revenue for the first 5 months of the year has seen a 27% improvement compared to last year. Revenues from table games exceeded $30 million for the first time this year. However, electronic gaming devices and slots realized a decline in revenue. The $86.5 million produced from EGD and slots was close to 7% less than the last month.
In May, the average revenue for every admission was $146.56 equated to the $155.92 produced in May 2021. In total, Illinois collected $22.7 million worth of taxes. So far, Illinois has gathered more than $82.7m in tax receipts, which is an increase of $21.2 million compared to what was collected in the first 5 months of 2021.
Even though the number of active video game terminals grew to an all-time high of $231.6 million, the income produced was still 5.3% lower compared to April’s $243.8 million. In total, the net terminal profits from video game terminals reached 42,965, which produced $67.1 million in taxes for the state. Local municipalities, on the other hand, walked away worth $11.6m in overall taxes.
Based on data shared by the Gaming Board, the highest revenue generator for Illinois continues to be Rivers Casino in Des Plaines. This May, Rivers Des Plaines produced $46.2m in income followed by Grand Victoria Casino, which generated $13 million in profits. Harrah’s Joliet Casino & Hotel, on the other hand, produced the 3rd highest revenue at $11.1 million.
Illinois is the only state to see an increase in gaming revenue
In June, casinos in Illinois were the only ones in the country to see an improvement in their gaming revenue this June. Illinois’ casinos were the only ones to report year-on-year growth in June as casino revenue grew by 5% to reach $110.7 million. This growth was experienced despite Caesars’ operating revenue dropping by close to 5%.
As a result, Caesars managed to produce $64.8 million this June while Penn National’s operating revenue reached $30 million, a decline of 8%. In addition, Hard Rock Redford’s location saw its revenue also drop by 16%. Thankfully, DraftKings’ success at Casino Queen helped to greatly counterbalance the slight drop from other operators in the state.
In total, DraftKings collected $6.5 million in June, which was a 23% boost compared to May’s performance. Bally’s Quad Cities also experienced a successful June when it posted a 17% increase. Rives Des Plaines’ income also rose by 12%.
Even though the year is only halfway done, the state has made significant strides year on year. Case in point, revenue from brick-and-mortar casinos rose by 18% while iGaming has risen by a whopping 59%. Sports betting, on the other hand, saw a significant rise of 85%.
Recently, the Empire state posted its revenue for June, which was lower by 34% month on month. Close competitor Iowa, alternatively, saw its sports betting revenue dropping by 22%. Other states that recorded lower figures include Maryland, which generated $16 million less compared to May’s results. It is worth noting that Maryland recorded its second highest revenue of $178.8 million in May.
The news wasn’t so positive for Delaware though. Delaware recorded its worst performance since August 2020. In addition, net income dropped by more than 100% when the 3 major racetracks in Delaware produced $212,768 compared to the previous month’s $495,676. Based on these numbers discussed above, Illinois was the only state to record an improvement in performance during the postseason slump that was experienced by operators all over the country.
