The Illinois Gaming Board (IGB) has recently unveiled its comprehensive casino revenue report for the year 2022. This report paints a promising picture for the state’s casino industry, as it reveals a remarkable revenue surge of 13.6% across the eleven casinos compared to the previous year. This resurgence brings revenue levels to a mere 0.4% below the figures recorded in 2019, prior to the outbreak of the Covid-19 pandemic.
Revenue Growth and Top Performers:
Illinois’ vibrant casino landscape saw a substantial increase in revenue, with the collective total reaching $1.35 billion in 2022, a substantial climb from the $1.19 billion of the previous year. Leading the way was Rivers Casino, generating an impressive $528.7 million in revenue, followed by Grand Victoria Casino with $154.4 million. Harrah’s Joliet Casino & Hotel contributed $135.1 million, while Hollywood Casino Aurora and Hollywood Casino Joliet added $99.4 million and $87 million, respectively.
Rising Admissions and Local Contributions:
The allure of Illinois casinos was evident in the surging number of admissions, which reached 9.1 million in 2022, marking an 18.4% increase from the prior year. Rivers Casino in Des Plaines played a significant role, accounting for 2.8 million of these admissions. This thriving casino landscape translated into tangible benefits for the state and local governments, as tax revenues soared. Taxes returned to these entities in 2022 totaled $366.5 million, marking a staggering 307% surge from 2020 and a solid 16% growth from 2021. The state alone received nearly $290 million, while local governments benefited from $76.5 million.
Sports Wagering and New Casino Ventures:
The report also underscores the influential role of sports wagering in Illinois’ revenue landscape. In the first eleven months of 2022, sports wagering generated $714 million in operator revenue, accompanied by $106.9 million in state taxes. The Illinois casino scene is poised for further expansion in 2023, with five new casinos slated to join the ranks. The Temporary by American Place Casino in Waukegan is set to open this month, followed by the anticipated launch of Golden Nugget Danville in March. The temporary Bally’s Chicago casino is scheduled for a June debut, while Walker’s Bluff Casino Resort in Williamson County and the permanent Hard Rock Rockford casino are slated to open later in the year. Wind Creek Chicago Southland Casino is also on the horizon, aiming for a late 2023 or early 2024 introduction.
The Illinois casino industry’s robust rebound in 2022 showcases its resilience and potential for growth, even amid challenging circumstances. The impressive revenue increase, rising admissions, and upcoming casino openings signal a positive trajectory for the state’s gaming landscape. This expansion, coupled with the proactive approach to sports wagering, paints a promising picture for the continued prosperity of Illinois’ casino industry in the years to come.