Illinois Casino Revenue Nearly Hit Pre-Pandemic Levels In 2022
In 2022, casinos in Illinois generated approximately $1.348 billion in total adjusted gross revenue, according to data released this week by the Illinois Gaming Board. The figures also indicate that after two challenging years of pandemic-induced closures, casinos are almost back to their normal operations.
Revenue from casinos is only 0.4% less than the 2019 total of $1.354 billion, which was the final year before the COVID-19 pandemic affected the figures.
The pandemic in 2020 forced IL casinos to shut down from March 16 to June 30, contributing significantly to a 73% decline in revenue compared to 2019. Despite an improvement in 2021 with revenues reaching $1.187 billion, the pandemic continued to have an impact.
In 2022, revenue increased by 14% compared to 2021.
It’s important to note that in 2022, Illinois was home to 11 land-based casinos. However, from 2019 to 2021, only 10 casinos were operational in the state.
Illinois casino attendance topped 9 million in 2022
In 2022, Illinois casinos saw an increase in attendance with over 9 million visitors, a rebound from previous years. However, this still represented a 13% drop from 2019 figures, which exceeded 10 million.
The yearly casino admissions were as follows:
- 2019 — 10,447,223
- 2020 — 2,414,690
- 2021 — 7,684,535
- 2022 — 9,099,798
Revenue to state and local authorities in 2022 was over $366 million
In 2022, the total taxes returned to Illinois state and local authorities from casinos significantly increased compared to 2020 by 307% and 2021 by 16%. However, there was a decrease of 19% compared to 2019.
Casinos generated nearly $290 million in state taxes and $76.5 million in local taxes in 2022, totaling $366.5 million. The local tax share in 2022 was similar to that of 2019, but the state tax share in 2019 alone surpassed $377 million, leading to a total of more than $455 million.
The noticeable decline in casino taxes compared to 2019 is largely attributed to a slight reduction in the casino taxation rate in July 2020. The Illinois Gaming Board (IGB) states that the wagering tax applies to all casino gambling, excluding table games.
- Up to $25 million in adjusted gross revenue, 15% is taken.
- 22.5% of AGR over $25 million up to $50 million.
- 27.5% of AGR over $50 million but up to $75 million.
- 32.5% of AGR over $75 million and up to $100 million.
- AGR exceeding $100 million but not more than $150 million is 37.5%.
- 45% of AGR over $150 million but up to $200 million.
- AGR exceeding $200 million at 50%.
The tax structure for table games is as follows:
- AGR up to and including $25 million is subject to a 15% charge.
- 20% over $25 million of AGR.
The state also imposes taxes on casinos based on the number of visitors. The tax rates vary from $3 to $5 per person, depending on the number of guests the casino had in the past year.
Even more growth expected in 2023
It is anticipated that numbers will exceed 2019 levels by 2023. Meanwhile, Illinois is currently experiencing a surge in casino growth.
In 2023, the Prairie State is expected to introduce five new casinos and one larger one, bringing the total number of casinos in the state to 16, as a strategy to increase revenue.
- The American Place Casino’s Temporary location in Waukegan is anticipated to open in January.
- The opening of Golden Nugget Danville is planned for March 2023.
- The temporary casino of Bally’s Chicago at the Medinah Temple is set to open in June 2023.
- The opening of Walker’s Bluff Casino Resort in Williamson County is anticipated to happen at some point in 2023.
- The Hard Rock Rockford casino is set to open permanently late in 2023, following the opening of the temporary Hard Rock: Opening Act casino in 2021.
- The Wind Creek Chicago Southland Casino, located on the border of Homewood and East Hazel Crest, IL, is set to open either in late 2023 or early 2024.
Additionally, both Hawthorne Race Course in Cicero, IL and the FanDuel Sportsbook and Horse Racing in Fairmount, IL, near St. Louis, will be welcoming racinos.
Ranking Illinois casinos by revenue
The 11 existing casinos in Illinois are ranked by their 2022 revenue as follows:
- Rivers Casino — $528,738,490
- $154,449,261 – Grand Victoria Casino
- Harrah’s Joliet Casino & Hotel – $135,174,681 is rephrased as $135,174,681 – Harrah’s Joliet Casino & Hotel.
- Hollywood Casino in Aurora – $99,437,928
- Hollywood Casino Joliet made $87,084,422.
- Casino Queen at DraftKings — $79,537,598
- Casino Harrah’s Metropolis – $62,803,541
- Par-A-Dice Hotel Casino has made $60,704,160.
- Rockford’s Hard Rock Casino – $54,747,268
- Bally’s Quad Cities Casino & Hotel has a value of $54,551,196.
- Alton’s Argosy Casino – $31,433,958.
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