By Jamey Dunn
The Commission on Government Forecasting and Accountability released a report that says total gaming revenues for the state in 2011 reached their lowest level since 2001. The state's take of riverboat, horse racing and lottery revenues for last fiscal year was about $1 billion.
Revenue for riverboat gambling decreased by almost 6 percent from Fiscal Year 2010 and made up almost 34 percent of total gaming revenues. Four years ago, riverboats contributed about 52 percent of gaming revenues. The report said revenues from riverboats are at the lowest since FY 1999.
The report pointed to the economic downturn and increased competition from neighboring states as possible causes for the drop. However, the numbers continue to suggest that the biggest contributor to the drop in Illinois casino revenues is the indoor smoking ban. “Since the indoor smoking ban began in January 2008, adjusted gross receipts for Illinois riverboats have fallen a combined 30.7 percent from pre-smoking-ban levels,” the report stated.
Read the rest of the story by clicking on the following: http://illinoisissuesblog.blogspot.com/2011/10/gaming-revenues-down-as-quinn-continues.html
No comments:
Post a Comment