* From a legislative cheat sheet…
Casino Expansion: One Time Revenues (License/Application/Position Fees): $360 million in FY20
One-Time Reconciliation Payments: $630 million (not to be collected until FY23)
One-Time Revenues from bidding of the six new casinos: conservative estimate of $200-$300 million per license, for six licenses. Total revenues could be realized all in FY20 ($1.2 billion - $1.8 billion), or could be spread out over several years.
Recurring Revenues: $170 million annual for slots, $17 million for table games at full implementation.
Racetracks: One Time Revenues (License/Application/Position Fees) of $220 million
Recurring Revenues: Awaiting either GOMB or CoGFA analysis.
Sports Betting: One time revenues for licensing fees $240 million at full implementation.
Recurring revenues: $60 million - $100 million at full implementation (this does not include the Lottery Kiosk Pilot Program as Illinois would be the only state to separate that out from other providers at 35% tax rate).
Video Gaming: Projected to bring in an additional $40 million to state, $8 million to municipalities in year 1, $50 million state; $10 million munis going forward. This does not include natural growth from additional terminals which could maximize revenues up to $150 - $200 million at full implementation (stakeholder estimate that does not factor in cannibalization of the market).
One Time Revenue Estimate Totals: $2.7 billion at full implementation. This could all be realized in FY20 with the exception of $60 million in online sports wagering licenses due to the penalty box.
Recurring Revenue Estimate Totals: $470 million at full implementation. This does not include the Lottery Sports wagering pilot program.
You can’t bond one-time revenues, of course, but $2.7 billion will eventually fund a lot of vertical construction projects. And we’ll see what the recurring revenue total eventually winds up being and if they ever decide to bond that money. Frankly, having $400 million or so in recurring revenues would be better spent on pay as you go projects every year. That means a new capital bill every year, which is how things used to be done.