Illinois’ gambling industry is on a roll, with wagering across all gambling platforms up 8 percent, according to a new report from the Commission on Government Forecasting and Accountability. The study also indicated riverboat revenues have declined 2.1 percent and horseracing revenues also have dropped.
COGFA Senior Analyst Eric Noggle said the mixed results are due to the expansion of video gambling. “In downstate Illinois, that’s where our growth has come. Video gambling revenues have allowed us to have an 8 percent overall increase in the state of Illinois,” Noggle said. He added although Illinois riverboats and horseracing tracks are generating less revenue, the statewide expansion of video gambling has increased Illinois’ gambling revenue to $1.2 billion, or about 3.8 percent of the state’s total revenue. However, even with the continued growth of video gambling terminals, some areas around Chicago have reached a saturation point, Noggle said.
He noted combining gambling receipts with riverboats and video gambling totals $2.3 billion annually for the state. “That would be larger than Indiana, Iowa, Michigan, Missouri, Ohio, states like that surrounding us,” Noggle said. He stated Illinois is catching up to other gambling states “like Pennsylvania with $3.2 billion, New Jersey is at $2.4 billion. So we’re close to New Jersey.”
