Alarming Data surrounding the Newest Casino in Illinois

Why are the numbers so low for the newest casino in the Land of Lincoln? Are people in Illinois fed up with gambling, or is it the casino's fault? Here is what we know...

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According to an article from ABC 7 Chicago, the new temporary Bally's Casino in downtown Chicago (it is temporary while building the permanent location on Goose Island on the Chicago River) is making much less money than projected. In the article, they say...

"In total, the casino brought in around $30 million from its opening in September through the end of December. The city receives around $3.1 million of that, money that has been earmarked for police and fire pension funds. But former Mayor Lori Lightfoot's administration had estimated the casino would bring in $12.8 million."

Whoops! They estimated the casino would bring in $12.8 million and it only brought in $3.1 million... The one good piece of news is that the articles went on to say that the City never budgeted that revenue into the 2023 budget so it didn't impact the city negatively, for more information, click here! 

Are people turning away from Casinos?

To me, the obvious answer to this question is yes, and no... I do think that legalized sports betting on apps has filled a niche for people and is keeping them away from casinos. But also this "temporary" casino is just not in a great spot for massive amounts of people to go there, it's not big enough, and there is no parking around it. I am not shocked this casino is "underperforming" expectations, but I do think once the permanent casino opens on Goose Island it will be a huge money maker.