* As if there was ever any doubt, Gov. Pat Quinn will veto the gaming bill that was finally released last week from a parliamentary hold…
On Oct. 17, 2011, Quinn announced that if Cullerton ever did send him the 2011 bill, he would veto it. So the bill sat, until last week. At the end of the expiring General Assembly, Cullerton cleared off his desk and sent the measure to Quinn. And on Friday, Quinn spokeswoman Brooke Anderson assured us that the governor will follow through on his 2011 threat.
* Meanwhile, I’m not so sure this smoking ban explanation is correct…
According to a year-end report issued by the Illinois Gaming Board, [casino] revenue for the 2012 calendar year was $1.6 billion, which was up slightly from 2011, but down by about 38 percent from 2007.
Tom Swoik, director of the Illinois Casino Gaming Association, which represents the Metropolis casino, Harrah’s, said that the 2007 smoking ban and an economy that took a turn for the worst are two reasons for the dip.
“Once the economy starts improving, I think that casino revenues will pick up,” Swoik said. “I think it will be a long time if ever that we get back to the 2007 figures because they’re not going to change the smoking ban.”
“All of the bordering states that have casinos do not have a smoking ban, so we lost about 20 percent in 2008, and we’ve lost an additional 18 or 19 percent on top of that since then just because of the economy,” Swoik added.
* It turns out, things are tough all over, despite casinos allowing smoking. For instance…
Revenues at Northwest Indiana’s five casinos dropped by $24.3 million in 2012, the second straight year of decline with the state of Indiana predicting more declines ahead.
The five Northwest Indiana casinos raked in $1.11 billion total in 2012, as compared to $1.13 billion in 2011, for a 2.1 percent drop overall, according to a tally by The Times of Indiana Gaming Commission monthly revenue reports. That drop compares with a 5.5 percent drop statewide in 2011.
And…
All but one of the St. Louis area’s six casinos experienced revenue declines in December.
Pinnacle Entertainment’s River City Casino, in Lemay, received 3 percent more from gamblers last month than it did in December 2011. But that was the only growth among the area’s casinos, according to figures released Thursday by state regulators.
Winnings fell slightly at Lumière Place, Pinnacle’s other casino in the St. Louis market.
The biggest drop took place at Hollywood Casino, which changed hands late last year. Penn National Gaming paid Caesars Entertainment $610 million for the casino and adjoining hotel in Maryland Heights.
And…
Nevada gaming revenues took a nosedive in November.
Statewide, casinos collected $782.6 million from gamblers during the month, a drop of almost 11.1 percent compared with $880.1 million collected in November 2011.
On the Strip, gaming revenues fell 12.8 percent with casinos collecting $431.8 million from customers, compared with $495.2 million collected a year ago.
The Gaming Control Board released the November numbers this morning.
Clark County gaming revenues as a whole fell 13 percent as every reporting area showed year-over-year monthly declines. Casinos along the Boulder Strip reported a 26 percent decline in gaming revenues while revenues were off 24 percent in North Las Vegas.
Downtown Las Vegas gaming revenues declined 17.2 percent.
LIVE session coverage...
- Anyone Remember? - Monday, Jan 14, 13 @ 10:45 am:
Tom Swoik’s track record on prediction of smoking ban harm hasn’t been conclusively proven out.
- wordslinger - Monday, Jan 14, 13 @ 10:59 am:
Las Vegas has been diversifying for a while, trying to become more of a resort destination with revenue streams from dining, shopping, spas, golf, etc.
But they’ve been taking a pounding ever since September 2008.
- Jaded - Monday, Jan 14, 13 @ 11:04 am:
=Nevada gaming revenues took a nosedive in November=
Maybe all the gamblers just got “hot” at once!:)
- He Makes Ryan Look Like a Saint - Monday, Jan 14, 13 @ 11:05 am:
We need SOMETHING that brings in Revinue!! If we do not get slots to the tracks, we will lose another industry (Horseracing). Many have already fled to the states where there are slots at the tracks. ALong with them went the Taxes associated with their workers.
There has not been a positive Revenue producing bill since Quinn has come in. We need expanded gambling and we need Jobs! While I am at it Tenaska would have brought a lot of much needed jobs and dollars into Illinois, oh, COM ED stopped that.
- bored now - Monday, Jan 14, 13 @ 11:12 am:
all good politics to blame something you don’t like as the reason(s) that you experienced a downturn in revenues…
- HEY JACK, - Monday, Jan 14, 13 @ 11:18 am:
Allow expansion. Wheather you agree or disagree people will make free choices to participate or not partcipate. If those who gamble enjoy, why not let IL reap some of the tax revenues??
- chefjeff - Monday, Jan 14, 13 @ 11:20 am:
Is it possible we have saturated the gambling market and the addition of new casinos will be a zero sum game? I stopped in Tunica MS last year, and have never seen so many low class people, and old people in one place. Suave sophisticated and stylish it was not.
- Coach59 - Monday, Jan 14, 13 @ 11:24 am:
Governor Quinn doesn’t have a clue! He keeps turning down revenue opportunities! He could have have signed this bill and bring much needed revenue to the state plus it would have continued having back the betting horses on line with companies that the state has been losing the money since the first of the year. We won’t get this money back that we have lost so far this year! Quinn just wants to tax the citizens but yet not be creative to bring in additional revenue! Having slots at the Chicago airport and a casino in Chicago would bring in huge money to the state and it would come from tourists visiting the city! Also allowing slots and the race track would be huge for the racing industry! We have a Governor that is sending this state down the drain! I will not vote for him ever again now!
- wordslinger - Monday, Jan 14, 13 @ 11:27 am:
–I stopped in Tunica MS last year, and have never seen so many low class people, and old people in one place.–
Had high expectations for Tunica, did you? I imagine not a lot of white dinner jackets, vodka martinis — shaken, not stirred — and international intrigue around the baccarat tables. Or baccarat tables.
- Formerly Known As... - Monday, Jan 14, 13 @ 11:43 am:
=== We need SOMETHING that brings in Revinue!! ===
Agreed.
The cleanest solution would seem to be getting our economy fully back on track and rapidly increasing job growth (cleanest, not simplest).
In the meantime, some of COGFA’s reports are becoming disturbing reading.
The income tax increase appears to be generating most of Illinois’ revenue growth. Baseline revenue growth (less the tax increase revenue) is sputtering along.
Combine the lack of base revenue growth with:
- a lack of progress on our bill backlog or pension balance
- likely federal spending reductions
- the clock ticking closer towards expiration of Illinois’ “temporary” tax increase
and…. well, this might could get ugly.
Real ugly.
Even if the tax increase is made permanent, doing so simply maintains the current status quo.
And squeezing every last dime out of expanding gaming, legalizing and taxing medical marijuana, revenue from gay marriage, taxing bullets, or any other “new” revenue source may not be enough to get us ahead of the curve.
- langhorne - Monday, Jan 14, 13 @ 11:45 am:
if chgo ever does get a casino, can they turn around and lease it out to someone? like the skyway and parking meters?
the smoking ban and economic downturn are likely to have had a negative effect on revenues. well, why go to a casino when you can go to a local bar, sit at a machine, duck out for a smoke as needed, and still get home in 20 minutes.
- Way South of I-80 - Monday, Jan 14, 13 @ 12:02 pm:
Have you looked at the revenue from the new video poker machines? Fascinating reading at ttp://www.igb.state.il.us/revreportsVG/Default.aspx
- Way South of I-80 - Monday, Jan 14, 13 @ 12:05 pm:
If that link doesn’t work go to
http://www.igb.state.il.us/ and click on Monthly Reports and then click on Video Gaming
- Cheryl44 - Monday, Jan 14, 13 @ 1:43 pm:
Do we need more casinos, or just places people can gamble? I say we stick video poker and one-armed bandits in museum lobbies. There’s always someone in the tourist group who really does not want to go look at paintings. They can sit in the lobby at the Art Institute and gamble while their spouse/family/fellow tourists go look at the Monets.
- wordslinger - Monday, Jan 14, 13 @ 2:26 pm:
– I say we stick video poker and one-armed bandits in museum lobbies.–
That’s old school Chicago — like fur traders and cutthroats at the Sauganash Hotel at Wolf Point old school, lol. Or the Levee District.
- Ruby - Monday, Jan 14, 13 @ 3:19 pm:
In recent years our state governments have been competing with each other for gambling revenue, which is in reality a regressive tax on our most vulnerable citizens. When state governments bet against their own people it is a race to the bottom. Gambling is not a solution but rather one of the causes of our economic problems.
- zatoichi - Monday, Jan 14, 13 @ 3:38 pm:
Gambling is seen as a revenue solution so more gambling sites go up. Number of gamblers does not signficantly change so they simply get spread over more locations. The economy stays flat and retail Chrismas sales were pretty mediocre. People simply do not spend as much. Revenue drops, what a shock.
- Cheryl44 - Monday, Jan 14, 13 @ 4:58 pm:
Yeah–let’s bring back the Levee! Thanks, Word. I’ll email my state rep right now.