Gambling Revenue Up 5 Percent Last Fiscal Year
The new temporary Bally’s casino in downtown Chicago. (Photo: Chicago Tribune)
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Gambling revenue continues to grow in Illinois, with more expected as new casinos have opened in Chicago and Rockford.
In a new report from the Commission on Government Forecasting and Accountability (COGFA), gambling tax revenue in the fiscal year that ended June 30 totaled around $1.99 billion. The COGFA report says video gaming and lottery tax revenue showed the largest growth. Only horse racing saw negative growth.
Casino receipts made up $1.43 billion, and was driven by new temporary casinos going online in Waukegan and Danville. COGFA believes it shows a turnaround in casino revenue in the state.
“[Revenue] surpassed recent pre-pandemic levels and may indicate a reversal of the generally downward trend of casino revenues over the past decade,” the report states.
Sports betting generated around $950 million in receipts. Horse racing receipts fell from around $600 million to around $515 million.
It shows the growth the state has seen in gaming revenue since 2012.
“This growth has been largely driven by the steady expansion of video gaming, elevated lottery sales, and the continued construction of new casino projects across Illinois,” the report states. “As a result of this development, Illinois revenues reached a historical high for this category.”
A new temporary casino in Chicago didn’t open until September, meaning gaming receipts and tax revenue will likely increase gaming receipts even higher next year.