* Nexstar Media…
Hard Rock Casino Rockford brought in the 2nd highest casino gambling revenue of any casino operating in Illinois, according to the Illinois Gaming Board.
In September 2024, Hard Rock Casino Rockford brought in $13,717,722 in revenue. Of that, $3 million is allocated to the state, and $843,040 to Rockford and the surrounding cities.
That makes Rockford’s casino the second largest in revenue in the state, behind the Rivers Casino Des Planes, which brought in $41.5 million in September. […]
On Monday, Rockford City Council voted on a one-year contract to use the casino tax revenue to support Rockford Promise college scholarships, the planned International Women’s Baseball Museum, and the economic development of high-risk neighborhoods. The beneficiaries could change each year when the contracts expire.
* Meanwhile, let’s move on to Hannah Meisel…
Illinois surpassed $2 billion in tax revenue last year from all types of gambling and the state lottery – a record bolstered by continued growth in video gambling, sports betting and the opening of several new casinos.
But that growth comes at the expense of Illinois’ traditional riverboat casinos and the horse racing industry, which has been on a downward trajectory for decades.
An annual report published last week by the General Assembly’s fiscal forecasting arm laid out the state’s record nearly $2.1 billion in revenues, nearly half of which was earmarked for infrastructure projects, while most of the remainder went to education.
While the Illinois Lottery continues to make up a significant portion of the state’s wagering revenues, it might soon be eclipsed by Illinois’ ever-growing video gambling industry. In the last fiscal year, the lottery netted $886 million in state tax revenue while video gambling’s state taxes climbed to $848 million. […]
COGFA’s report indicates overall casino revenue growth is mainly due to the success of Rivers Casino in Des Plaines and the opening of five new casinos statewide in the past few years. A sixth, in Chicago’s south suburbs, is slated to open later this fall.
Illinois’ nine riverboat legacy casinos, most of which have been running for about three decades, have seen their revenues decline “for nine consecutive years,” according to the report. Visits to casinos in East St. Louis, East Peoria and Joliet’s Harrah’s Casino have seen significant drop-off.
Go read the rest. COGFA’s report is here.
- lake county democrat - Wednesday, Oct 9, 24 @ 12:15 pm:
I’m not into casinos but I always like visiting Rockford and with a few more attractions like the women’s baseball museum it might make itself into a modest tourist destination. I already tell people planning a week in Chicago they should save a day for Milwaukee.
- Back to the Future - Wednesday, Oct 9, 24 @ 12:49 pm:
One section missing from the report is the cost to families and businesses that suffer the consequences that this amount and growth of state partnering in this expansion of gambling has caused.
- walker - Wednesday, Oct 9, 24 @ 1:53 pm:
Rockford’s got a lot going for it lately — including their legislators and Governor.
- TheInvisibleMan - Wednesday, Oct 9, 24 @ 2:17 pm:
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Illinois’ nine riverboat legacy casinos, most of which have been running for about three decades, have seen their revenues decline “for nine consecutive years”
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And very soon, there will only be 8 legacy riverboats.
One of the riverboat casinos in Joliet -Hollywood- is moving from a riverboat, to another location in Joliet which is not a riverboat but fully landlocked at the intersection of I-55 and I-80. Groundbreaking for the new site was in December of ‘23.
The casino moving isn’t even the worst performing one in Joliet. The Harrahs is underperforming far more. Putting that casino in the level of decline 2nd only to the casino with the worst performance declines in Elgin.
The report touches on the cannibalization from other locations as the Chicagoland market gets saturated, and using these numbers it is a reasonable assumption that an additional license in the south suburbs will further cannibalize from Joliet.
Lots of good info in this report. There are trends here and projections which can be made which are going to impact some local areas more than others.
- hystorically - Wednesday, Oct 9, 24 @ 2:21 pm:
At one point the casinos had to subsidize the horse racing industry. Does that video gaming industry subsidize the casinos?
- Old IL Dude - Wednesday, Oct 9, 24 @ 2:44 pm:
What’s remarkable is there is no info on the Chicago casino temporarily operated at the Medinah Temple. I forgot it was even there.