Illinois casinos report $132.1m in adjusted gross receipts for September
Rivers Casino recorded nearly $41.5m.
US.- Illinois’ 15 land-based casinos reported a total adjusted gross receipts of $132.1m for September, according to the Illinois Gaming Board. Rivers Casino recorded $41.5m. Grand Victoria Casino and Harrah’s Joliet Casino reported $12.4m and $10.9m respectively.
The state’s casinos registered a combined $29.9m from table games and $102.3m from electronic games devices. Rivers Casino was the highest earner for both. Bally’s Chicago, which opened on September 9, reported nearly $6.7m in revenue. The casinos paid $32.7m in state taxes and $7.9m in local taxes.
Gaming and Leisure Properties acquires land under Hard Rock Casino in Illinois
In August, Gaming and Leisure Properties (GLPI) acquired the land associated with the Hard Rock Casino Rockford project in Illinois from an affiliate of 815 Entertainment for $100m. GLPI entered into a ground lease with 815 Entertainment for a 99-year term. The initial annual rent is $8m, subject to fixed 2 per cent annual escalation from the first anniversary.
GLPI has committed to providing up to $150m of development funding via a senior secured delayed draw term loan, subject to regulatory review. Any borrowings under the loan will be subject to an interest rate of 10 per cent. The term loan has a draw period of up to 1-year and a maximum outstanding period of up to 6 years. It is prepayable without penalty following the opening of Hard Rock Casino in Rockford.
