Illinois revenues hit 10-year low
With a slump in the economy, Illinois’ casinos have seen better days.
According to a report cited by Illinois Radio Network, the state Legislature’s Commission on Government Forecasting and Accountability said gambling revenue for fiscal year 2009 was down from 2008 and is projected to fall further in fiscal 2010.
Senior analyst Eric Noggle said that after three consecutive years of growth, adjusted gross receipts from Illinois casinos have fallen 24.4 percent over the last two fiscal years.
Adjusted gross receipts for 2009 totaled $1.48 billion, the lowest level since 1999.
Noggle says reasons for the decline include the struggling economy, increased competition from other states and the indoor smoking ban. The report says that since the smoking ban began in January 2008, ADR for the state’s riverboats have fallen more than 20 percent.