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Illinois casinos enjoyed a solid May, as adjusted gross revenue (AGR) rose $7.2 million over April.
Not to be outdone by monthly numbers, the state’s 15 land-based casinos had excellent year-over-year numbers. AGR was up $21.8 million (17.8%) from May 2023 to May 2024.
Key takeaways
- The sports betting law raising taxes on sportsbook operators could open the door for online casinos.
- All but two casinos posted positive monthly revenue growth.
- Bally’s Chicago’s May total was the highest in the casino’s history.
Are Illinois online casinos on the way?
Illinois lawmakers recently approved a new budget that changed the state’s online sports betting tax rate from a flat 15% to a “graduated” rate that increases as AGR increases. Basically, operators went from paying 15% on all revenue to paying anywhere from 20% to 40%.
The decision was relatively simple for legislators: The state needed more money for its budget. Though the increased tax rates will seriously dent many casinos’ take-home dollars, the state’s coffers will be happy.
Should lawmakers run into another budget shortfall, raising online sports betting taxes could cause pushback from sportsbook operators likely already frustrated with the new budget’s tax rates. Online casinos could be the out for lawmakers — they don’t have to cut into sportsbook revenue and they give casinos a new (and lucrative) revenue stream.
For example, if Illinois online casinos were legal in April, PlayUSA projects it could’ve brought in at least $200 million in revenue. If only casinos were taxed at, say, 25%, legalizing iGaming could bring the state around $50 million in a good month.
Casino revenue rises by 5.3%
Illinois casinos amassed $143.8 million in revenue in May thanks to positive revenue numbers from all but two of 15 properties posted monthly increases. Walkers Bluff Casino saw the biggest monthly revenue jump, percentage-wise, at 15.36%, followed by DraftKings at Casino Queen (15.36%), and Hollywood Casino at Joliet (12.22%).
| Casino | May 2024 Revenue | April 2024 Revenue | Month-on-Month Change |
|---|---|---|---|
| Rivers Casino | $44,722,578.02 | $42,242,786.01 | 5.87% |
| Grand Victoria Casino | $12,125,988.05 | $12,411,165.62 | -2.30% |
| Bally’s Chicago | $11,734,292.70 | $10,351,033.44 | 10.60% |
| Harrah’s Joliet Casino & Hotel | $10,511,979.00 | $10,609,675.59 | 1.55% |
| The Temporary by American Place | $9,107,993.60 | $9,476,093.53 | -3.88% |
| DraftKings at Casino Queen | $8,648,588.67 | $6,583,058.09 | 6.71% |
| Hollywood Casino Aurora | $8,592,298.54 | $8,104,656.81 | 12.22% |
| Hollywood Casino Joliet | $7,594,122.32 | $7,656,411.13 | 15.36% |
| Hard Rock Casino Rockford | $6,619,708.93 | $6,242,317.6 | 6.05% |
| Par-A-Dice Hotel Casino | $5,561,966.94 | $4,881,161.59 | 1.47% |
| Bally’s Quad Cities Casino & Hotel | $5,361,243.45 | $4,789,800.19 | 9.84% |
| Harrah’s Metropolis Casino | $4,930,309.00 | $5,481,347.91 | 2.93% |
| Argosy Casino Alton | $2,950,039.87 | $2,742,472.47 | 1.89% |
| Golden Nugget Danville | $2,822,303.41 | $2,895,307.44 | 2.91% |
| Walkers Bluff Casino Resort | $2,539,221.43 | $2,177,562.78 | 16.61% |
| $143,822,633.93 | $136,644,850.20 | 5.25% |
Bally’s Chicago posts record-breaking numbers
Bally’s Chicago, the first regulated casino in Chicago, had a fantastic May. The casino posted its highest revenue numbers since opening in September 2023: $11,734,292.70.
The casinos’ continued revenue growth is a positive sign for a city that waited a long time to have its own casino. Here’s a snapshot of what Bally’s Chicago’s growth has been like since it opened:
| Month | Revenue | Growth (%) |
|---|---|---|
| May 2024 | $11,734,292.70 | 13.36% |
| April 2024 | $10,351,033.44 | -6.98% |
| March 2024 | $11,127,674.29 | 12.65% |
| February 2024 | $9,877,740.71 | 6.48% |
| January 2024 | $9,276,818.55 | 9.11% |
| December 2023 | $8,502,168.82 | 11.75% |
| November 2023 | $7,608,131.76 | -0.01% |
| October 2023 | $7,608,826.00 | 13.93% |
| September 2023 | $6,678,430.97 | N/A |
