- Sure casinos in Illinois may quickly qualify to relocate
- Illinois’ gaming trade is dominated by a handful of casinos
- The variety of Illinois casinos expanded to 17 final 12 months
Illinois is among the many richest gaming states, with gamblers within the Land of Lincoln shedding greater than $2.9 billion final 12 months to on line casino slots, desk video games, video gaming terminals, and oddsmakers.
When it comes to 2024 gross gaming income in Illinois, the Golden Nugget in Danville generated the third-least amount of cash among the many state’s many casinos. Newly filed state laws seeks to permit struggling casinos to maneuver to extra favorable working places. (Picture: Illinois On line casino Gaming Affiliation)
Whereas Illinois’ on line casino market is flourishing — at present dwelling to 17 bodily gaming flooring — not all properties are reaping the identical advantages.
“It’s been clear for years that there’s a handful of casinos that do higher than others,” Illinois Rep. Joe Sosnowski (D-Winnebago) instructed WIFR.
On Thursday, Sosnowski launched Home Invoice 4070. The laws seeks to require that the Illinois Gaming Board (IGB) conduct a survey to establish the operational successes and failures of every on line casino license and decide doable places the place struggling licensees would possibly relocate. The statute would permit as much as three casinos to maneuver to a brand new space.
The [Illinois] gaming trade helps nearly 30,000 jobs and almost $2 billion in tax income that funds very important state and native providers,” Sosnowski added in a launch. “We will need to have the adaptability in state regulation to permit a struggling on line casino to relocate to a different market throughout the state the place they’ve a greater prospect for fulfillment somewhat than proceed to languish with no treatment. My proposal would guarantee the flexibility of each Illinois on line casino to thrive.”
Together with the 17 brick-and-mortar and riverboat casinos, Illinois is dwelling to 9,000 video gaming places that provide slot-like VGTs and 14 retail sportsbooks. Sports activities betting can be allowed on-line by way of 10 operational sportsbook platforms.
Which Illinois Casinos are Laboring?
Of the 16 Illinois casinos that operated all through 2024 (Wind Creek Chicago Southland solely opened on Nov. 11, 2024), the three properties that generated the least quantity of gaming income (GGR) had been Golden Nugget Danville, Agrosy Alton, and Walker’s Bluff in Carterville. The casinos respectively generated slot and desk sport income of $37.1 million, $34 million, and $32 million.
Rivers Des Plaines was by far and away the highest Illinois on line casino when it comes to GGR at $516.1 million. Grand Victoria in Elgin was a distant second at $138.8 million. Rounding out the highest 5 had been the non permanent downtown Bally’s Chicago on line casino at $124.9 million, Harrah’s Joliet at $124.6 million, and American Place at $108.1 million.
Sosnowski’s invoice would activity state gaming regulators with measuring “every working on line casino license within the State relating to the adjusted gross receipts reported to the Board for probably the most just lately concluded 12-month interval.”
With Walker’s Bluff solely opening in August 2023, and the on line casino on the location of a resort that features a vineyard, operator Boyd Gaming is unlikely to hunt a brand new location for its Illinois on line casino license. That might convey Harrah’s Metropolis, with 2024 GGR of $58 million, into consideration. Golden Nugget may additionally be tired of relocating, because it solely opened its Danville facility in Might 2023.
As soon as the IGB’s survey is completed and made public, the regulatory board would set up a request for proposals from counties and municipalities all for welcoming a on line casino.
Neighborhood Protections
Since permitting a on line casino and the roles and tax income they help and generate to skip city for a extra favorable atmosphere is predicted to be met with native opposition, Sosnowski has included a provision that might require the IGB to make impacted municipalities greater than entire. HB4070 would mandate {that a} city that loses a on line casino obtain a “doubled share of tax” in contrast with what it acquired within the 12 months earlier than the gaming facility relocated.
The municipality or county that loses a on line casino would obtain a share of receipts equal to 2 instances what they’re at the moment paid, in recognition of how integral gaming income is to an area authorities’s skill to offer vital providers to residents,” Sosnowski’s workplace defined.
HB4070 has been directed to the Home Guidelines Committee for preliminary consideration.
