Grand Vic revenues 3rd for July among state’s casinos
By Mike Danahey email@example.com August 15, 2012 9:12PM
While Elgin budgeted for a 35 percent decline in casino revenue after the mid-2011 opening of the Rivers Casino in Des Plaines, 2012 revenue from the Grand Victoria (above) was only down about 25 percent. Sun-Times file photo
Updated: September 17, 2012 12:58PM
July figures from the Illinois Gaming Board put Elgin’s Grand Victoria Casino at third among the state’s 10 gambling halls for the month in adjusted gross receipts.
The Elgin casino, which up until a couple years ago consistently led the state each month in revenue, brought in $17.5 million last month, compared to $19 million at the Harrah’s in Joliet and $36.1 million for the Rivers Casino in Des Plaines.
Joliet’s Hollywood Casino was next on the list at $13.7 million, followed by the Hollywood Casino in Aurora at $12.6 million.
The July take at the 10 casinos stood at $142.5 million, with $987 million in adjusted gross receipts (AGR) generated from January through July. The $142.5 million is about 2 percent less than June totals but almost 6 percent higher than July 2011. The Rivers Casino opened in the middle of July 2011.
For the year to date through July, Elgin does lead the state in adjusted gross receipts per admission. The Grand Victoria brought in an average $131 per admission, followed by $126 at the Metropolis casino, $118 at Joliet Harrah’s, $110 in Aurora and Des Plaines, and $105 at the Hollywood in Joliet.
In fact, Elgin’s casino has consistently led the state in take per admission, and from July 2011 until this July had not brought in less than $127 per admission.
However, for this July, the Metropolis casino topped Elgin at $125 per admission compared to $123 at the Grand Victoria. At the same time, for the two weeks in July 2011 that the Des Plaines was open, it was generating just $62 per admission, which rose to $82 in August 2011 and stood at $102 per admission this past July.
In July, the casinos in East St. Louis and Rock Island were bringing in $64 AGR per admission — the lowest in the state.
Elgin’s adjusted gross receipts in July declined just 0.13 percent compared to June, but dropped about 24 percent compared to almost $23 million in AGR for July 2011.
As the Des Plaines casino opened in the middle of July 2011, its receipts were up almost 106 percent for July 2012 but down more than 15 percent compared to this past June.
Aside from Des Plaines, Joliet’s casinos were the only other casinos to have better July AGR numbers this year than last, with the Hollywood up 5.19 percent and Harrah’s up slightly at 0.68 percent compared to July 2011.
From January through July, in terms of attendance, Elgin placed fourth at 997,280 admissions. First was Des Plaines at 2.3 million, second was the Casino Queen in East St. Louis at 1.12 million, third was the Joliet Harrah’s at 1.086 million, fifth was the Aurora casino at 818,461, and sixth was the Hollywood Casino in Joliet at 797,685.
Elgin’s July admissions stood at 142,395 or 4.28 percent higher than June but down 17.6 percent from July 2011. The Des Plaines casino saw 354,037 admissions, with 171,767 visits made to the East St. Louis riverboat, 165,608 admissions to Joliet Harrah’s, 126,233 admissions to the Hollywood in Joliet, 119,821 admissions to the Rock Island casino, and 117,820 visits made to the Aurora casino.
Through July, the city of Elgin’s share of the Grand Victoria take stands at $7.544 million, with a monthly average currently on par to bring in about $13 million to the city. Last fall, proceeds for 2012 were budgeted to be $14.1 million, a 14 percent decrease in budgeted revenues from 2011.
At that time, the city noted that budgeted proceeds had decreased more than 47 percent from 2008 and has been adjusting accordingly. The decrease has been attributed to the state’s indoor smoking ban, the recession and the opening of the Rivers Casino.