Welcome to another Illinois Gaming Board (IGB) recap with everything you need to know about the latest industry news and regulations.
An Impressive 2023
The IGB held its monthly meeting on Thursday, Feb. 8 to much anticipation. And for good reason. The Illinois gaming industry is setting the stage for a big year in 2024.
After some opening remarks by Administrator Marcus Fruchter, we were treated to some new numbers. In December, VGTs generated a Net Terminal Income (NTI) of approximately $251 million, resulting in $84 million in taxes–$72 million to the state, and $12 million to the local municipalities. Also in December, licensed casinos generated $37 million in state taxes and $8 million for host communities. The Sports Wagering AGR had a reported take of $1.3 billion, generating more than $19 million in state taxes and over $1 million to Cook County.
Looking back on 2023, the Illinois gaming industry soared. The combined industries of Video Gaming, Casino and Sports Wagering generated more than $1.5 billion in taxes with the State’s share approximately $1.3 billion and the local municipalities sharing in $283 million.
New and Approved Establishments Update
Illinois now hosts 15 casinos, 13 sportsbooks, 57 active Terminal Operators (TOs), 8,443 licensed Establishments and 47,014 Video Gaming Terminals (VGTs). In the February meeting, the IGB approved 143 locations and issued denials to seven locations. Needless to say, the Illinois gaming industry continues to grow and thrive.
Robust December Gaming Revenue
In December, it was noted that VGTs generated a Net Terminal Income (NTI) of $250,905,997. Of that, producing State taxes of $72,766,024 and local tax of $12,540,893. Also of note, Illinois casinos had an Adjusted Gross Revenue (AGR) of $141,227,205, resulting in State tax of $37,810,380 and local tax of $8,491,196. Sports wagering reported an AGR of $128,430,319, to produce State tax of $19,264,547 and Cook County tax of $1,252,546.
An Early Look at 2024
Administrator Fruchter revealed some preliminary numbers for video gaming and casinos for January 2024, with the caveat that the reports have not been finalized nor officially posted to the IGB’s website.
- VGTs
- NTI of approximately $221 million
- $64 million State taxes
- $11 million local municipalities taxes
- Casinos
- AGR of $118,642,379
- $13 million State taxes
- $7 million for host communities
While those numbers are slightly lower than December 2023, there does not appear to be any cause for concern, and harsh January weather conditions across Illinois might have played a factor.
The IGB’s next open meeting is March 14th. Don’t forget to follow Universal Gaming Group on LinkedIn for ongoing updates, industry news and more gaming insights!
