Report Shows Illinois Gambling Revenues Dropping

CHICAGO (CBS) — The Illinois Gaming Board is out with its latest revenue report, and again it shows the economy continues to trump spending in casinos.

As WBBM Newsradio 780’s Mike Krauser reports, the latest figures show a 4.3 percent decline for the state’s casinos in the first five months of the year over the same period in 2010.

That continues a trend that started in 2007.

The Grand Victoria in Elgin had the smallest decrease at 1.5 percent. The Hollywood Casino in Aurora was down 3.1 percent.

LISTEN: Newsradio 780’s Mike Krauser reports

But going back to 2007, when the economy first took a turn for the worse, the Grand Victoria is down 34 percent.

The Daily Herald reports the casino’s annual revenue went from $437 million in 2007 to $287 million last year, a decrease of $150 million.

The news comes as the new Rivers Casino prepares to open in Des Plaines next month.

It also comes as Gov. Pat Quinn considers a bill that would dramatically expand gambling in Illinois. The bill would create five new casinos. In addition to the one in Lake County, casinos would also open within the Chicago city limits, and in the southern suburbs, Rockford and Danville.

The bill would also permit slot machines at racetracks, and at O’Hare and Midway international airports.

  • Jim

    I could have saved the state some money and come up with this “master of the obvious” conclusion for free. People can’t gamble what they don’t have (because taxes robbed them dry).

  • Just a thought

    the fifty wealthiest people in the USA should give $25,000.00 to every AMRICAN
    Citizen over the age of 21.That might a positive effect on the economy for a while!!!

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