Illinois casino revenue fell in 2019

Illinois casino revenue fell in 2019

Last year marked the seventh straight in which Illinois casino revenue failed to improve after raking US$1.35 billion, down 1.5% from the previous year.

US.- The gaming industry continues to change in the US, but it seems to be struggling in one state. Illinois saw casino revenue drop once again, marking its seventh straight year on the downside.

The segment saw US$1.35 billion revenues, 1.5% less than 2018’s figures. 

“The bipartisan gaming expansion will create jobs and spur economic development around the state while generating revenue to rebuild our universities, community colleges, state facilities and hospitals,” Gov. Pritzker spokeswoman Jordan Abudayyeh said about the segment’s future. “The administration understood the unpredictable nature of gaming revenue. It took that into consideration when putting together the revenue projections for Rebuild Illinois.”

So, even as Illinois casino revenue struggles, the future seems bright for gaming in the state.

Sports betting push

Illinois pushes to launch sports betting in the state and released phase 2 of its regulation.

The second stage of the process involves the elements licensees need to launch operations in the state. It includes accounting measures and financial record requirements. Moreover, authorised types of bets, internet wagering requirements and responsible gambling controls.

“Last June, the General Assembly passed and Governor Pritzker signed historic legislation significantly expanding casino/racino gaming, video gaming, and authorizing sports wagering in Illinois,” Illinois Gaming Board administrator Marcus Fruchter commented, as quoted by iGB.

According to Fruchter, they want to work with industry partners to make a high-integrity environment.

“Once applications are submitted, vetted, and approved, an applicant may receive a temporary operating permit. Then, it could begin accepting wagers as soon as they are ready to do so,” Fruchter explained.