South suburban casino hopefuls don’t see proliferation of video gambling hurting their odds of success
$5,000 Welcome Bonus
There are 3,400 video gambling terminals in the south and southwest suburbs. Two of the four south suburban applicants for a casino license were eliminated last month. The state could decide by the end of this year which of them will be awarded a license. The commission that annually evaluates the gambling environment in Illinois reports video casinos contribute to declining revenues at casinos. There was $1.9 billion in net terminal income in fiscal year 2021.
Homewood and East Hazel Crest are partnering with Wind Creek Hospitality for a 64,000-square-foot casino on a 24-acre site southwest of the Interstate 80 and Halsted Street interchange. In Matteson, South Suburban Development’s partners include Oklahoma's Choctaw Nation. Rob Miller, the largest investor, doesn't see video gambling diluting revenue for the Matteson casino. Illinois' gambling revenue has been on an upward trajectory even with the introduction of video gaming in September 2012.
Illinois Commission on Government Forecasting and Accountability reports that video gambling has hurt casinos. In fiscal 2021, adjusted gross receipts for the state’s casinos totaled $897 million, down 5% compared with fiscal 2020. For casinos as a whole, revenues have dropped for nine consecutive fiscal years. There are more than 40,000 video gaming terminals in the Illinois, including more more 15,00 in Chicago metro area. There were 2,700 in south and southwest suburbs at the end of 2018. Lottery games remain the biggest tax revenue producer in Illinois.
