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1 • Thursday, October 26, 2017 - The Independent
Addison
Independent
VOL. 14 • NO. 44
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THURSDAY, OCTOBER 26, 2017
State announces video gaming revenues outpace casinos for first time FOR THE ELMHURST INDEPENDENT
According to a report issued by the state legislature’s Commission on Government Forecasting and Accountability, video gaming has reached the point that it is now more profitable than casino gambling. The state reportedly made $296 million from the machines during the 2017 fiscal year that ended June 30. Meanwhile, Illinois’ 10 casinos generated just $270 million for the state, a $7 million drop from the previous fiscal year, according to the Commission’s report. It is the first time video gaming revenue has outpaced casino revenues since the machines began operating in 2012. Only Rivers Casino in Des Plaines and Hollywood Casino in Aurora made more money in 2017 than they did in the previous fiscal year, according to the report. “There’s no doubt video gambling has had a significant impact on riverboat casinos,” said Tom Swoik, executive director of the Illinois Casino Gaming Association. “The market is oversaturated and revenues are just shifting from one spot to another.” Admissions to the casinos, from which the state draws $2 per visitor, are down nearly 6 percent this year, costing the state almost $1.5 million in taxes. Video gambling has been a boon for the state at the casinos’ expense. The state’s video gaming revenue rose by $44 million in 2017, a 17.5 percent increase over the prior year. At the same time, there was only a 12.5 percent increase in the number of video gambling terminals across the state. Comparing video gaming to other gambling revenues When combined with receipts
from the lottery and horse racing, the state’s gambling revenues climbed 7.9 percent to $1.31 billion this year, the report said. The state’s horse racing revenue was stagnant at $6 million this year, generated from just three remaining tracks in the state, including Arlington Park. Lottery revenues remain the driver of the state’s gambling receipts, accounting for more than half of
all state dollars generated through wagering. According to the Commission’s report, the state collected $738 million from lottery-related sales this year, an 8.5 percent increase from 2016.
and the companies that actually own the machines, called terminal operators. Terminal operators and business owners each get 35 percent of all revenue, the state gets 25 percent, and the local government gets 5 percent. Where the money goes… While there is a limit to how Revenue from video gambling many casinos operate in the state, is split four ways among business video gambling terminals face fewowners, the state, local governments er restrictions. Essentially, any busi-
ness with a license to sell alcohol for on-site consumption in a town or county that allows video gambling can install up to five machines. At the end of the 2017 fiscal year, there were 26,783 terminals in 6,124 establishments throughout the state. The most recent data from the Illinois Gaming Board -- just three
See VIDEO GAMING, Page 3
SUBMITTED PHOTO Addison Independent
Army Trail third-graders at Village Hall
Army Trail School 3rd graders were the most recent student visitors at Addison Village Hall and Addison Public Library. The students visited with Mayor Rich Veenstra where they asked a number of questions and learned about village government before posing for a group shot on the east stairs of Village Hall. Their second stop was at the library where they toured all three floors of the building and spent some time working on a Halloween craft. Students will have the opportunity to tour Addison Historical Museum and Century House in spring when they’ve scheduled another walking field trip.
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Police Reports...........6 Sports �������������������� 20 Worship Directory....8 Classifieds..........23-24
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