Revenue Reports Since 2000
According to the Daily Herald, the Grand Victoria Casino Elgin generates more revenue than any other Illinois casino. In 2007, the casino took in $437 million, a rise of 13% since 2000. This increase in revenue came as a result of tightening slot machines, and occurred despite a 32% drop in attendance between 2000 and 2007.
As Illinois Gaming Board reports illustrate, the 2008-2009 economic recession has led to an overall decrease in revenue among Illinois casinos, particularly the Grand Victoria. The casino's revenue of $25 million for the month of February, 2009 was down 9.9% from the previous year and down 24% from 2007. The Smoke Free Illinois Act, which banned smoking in all enclosed workplaces beginning January 1, 2008, also severely reduced casino attendance. Casino industry officials estimated that Illinois would receive about 20% less in monetary contributions from the casino over the course of 2008, a difference of nearly $144 million.
In an attempt to make up for lost revenue, the Grand Victoria and other Illinois riverboat casinos are petitioning for permission to distribute free alcoholic beverages. Supporters of a proposed bill say that the current law is unclear, while opposing groups cite increased gambling addiction as a likely consequence if free alcohol distribution is legalized.
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