It was not a good year for Illinois casinos. The reported revenue from the state’s casinos (they have 10) does not meet pre-recession levels. In a report that was sent out by the Illinois Gaming Board, the revenue for 2012 was $1.6 billion. This is up just slightly from 2011 numbers, but it is down by nearly 38 percent from the year 2007.
Illinois Casino Gaming Association Director Tom Swoik, which represents Harrah’s, has reported the 2007 smoking ban as well as a weak economy to blame for the downturn. If the economy begins to improve, he says, he is confident that casino revenues will begin to improve as well. However, he also said he thinks it might be a long spell before casinos are able to see numbers that match the 2007 figures. This he reasons is due to the current smoking ban which was not in effect back in 07.
He went on to say that neighboring states which also have casinos allow smoking. He estimates that Illinois may have lost as much as 20 percent of its business in 2008, and estimates that they may have lost 19 percent more on top of that due to the struggling economy.
Of the 10 casinos in the state, the new Rivers casino, which is located in Des Plaines, is said to have earned the most revenue. The casinos that are located downstate Illinois are said to have earned a combined total revenue of some $38.5 million. The East Peoria Par-A-Dice casino says that it was able to earn $116.2 million in 2012. This represents less than one percent of an increase from 2011 numbers of $115.5 million. Rock Island Jumer’s was able to earn more than $87 million, which is an increase of 2.3 percent over 2011. As for the Metropolis Harrah’s casino, they came in with $97.6 million for the year 2012, and that represents a 2.3 percent increase from 2011. The Metropolis casino has a lot of competition that it has to contend with from bordering states, including the new Isle of Capri casino which is located in nearly Cape Girardeau.
Some believe that these numbers will have an impact on efforts that are being used to expand gambling within the state. Currently, there is a plan to bring in five more casinos which will include one for Chicago. This is now pending before Pat Quinn, Governor of Illinois. In the plan are ideas for horse tracks to be allowed to add slot machines.
Many lawmakers say that they are willing to consider anything that will bring in needed revenues to the state’s coffers. What objections there are seem to involve adding slots to horse tracks as tracks are usually very close to existing casinos and adding slots may siphon off casino players.
No further details were released as to what, if anything, the state plans to do to help increase casino revenues for the year 2013. One thing is certain, though, something needs to be done and done as soon as possible.