Off to a Strong Start: Rockford Casino Rakes in $4.1M in First Month
According to figures released by the Illinois Gaming Board, in just 22 days of operation, the Rockford Casino brought in $4.1 million, not including regular table games.
The city and state benefit from Hard Rock Rockford.
Many people consider the beginning to be a win-win situation for both players and the market. The city received$ 248, 935 of the$ 4.1 million brought in in November, while the state received$ 497, 870.
According to Mayor Tom McNamara, profit is already on track to surpass expectations. & nbsp, He said that preliminary projections called for the city to see roughly$ 1.5 million in revenue return. However, after only 22 days in November, the temporary casino’s annual revenue was expected to reach$ 3 million.
McNamara claims that the area is still deciding how to make the most of the upcoming boom.
“Right now, anything above and beyond, we have not allocated, so it would just go into the general fund until we allocate those resources”, McNamara said during a recent news conference. “I think we’ll probably do that once we get a little be closer toward that permanent casino.”
City officials say that they have already committed $1.5 million of casino revenue to an initiative called the Rockford Promise. The program will provide full-tuition scholarships to those who qualify from the Public School District in Rockford.
There is much to be happy about.
While the Illinois casino isn’t in its permanent location yet, there’s still plenty to be excited about at its temporary location. The current space boasts more than 37,000 square feet of gaming area and some of the newest slot machines and high-end electronic table games on the market.
There will be & nbsp, two dining options, one premium and one more relaxed. There & rsquo also has a retail location where you can buy all the well-known Hard Rock products that are recognizable worldwide.
As Jon Lucas, COO of Hard Rock International, said:
Due to their enthusiasm and drive for the job, as well as our excellent working relationships with local officials, & ldquo, we were able to determine right away that Rockford was the best location for our game. We made it a goal to recruit new vendors and staff members from the greater Rockford place as this job progressed in order to establish more ties with the area and reaffirm the commitment we made to participate actively in it for years to come. & rdquo,
What will happen to the Rockford Casino last?
While work on a continuous hotel is being done at the original Clock Tower webpage, the existing temporary Rockford Casino will be in location for up to two years.
Once the casino reaches its permanent site, the city will be guaranteed $7.5 million annually, in accordance with its contract with Hard Rock.