Illinois: Recovering or grasping a branch?

We’re at a point where we can finally say that Illinois‘ colossal slide in casino revenues has ended … at least until people get into the habit of playing video poker in bars. Reckless legislators like Rep. Lou Lang (D), who think “casino” and see a bottom less pile of money, ought to spend some time poring over March’s result. A monthly gross of $149 million hardly suggests “pent-up demand” just a-waitin’ to burst forth. However, the Chicago area seems to have stabilized at long last. There were small declines at Penn National Gaming‘s Empress Joliet and MGM Resorts International‘s Grand Victoria riverboat. However, Harrah’s Joliet and Penn’s Hollywood Aurora improved, as did Rivers Casino in Des Plaines. The latter led the market both in gross ($38 million) and improvement (10%). Even though casino admissions fell, per-visitor spend rose 5%, another heartening metric.

In smaller markets, Boyd Gaming was a bit off (-2%) at Par-A-Dice in Peoria while Harrah’s Metropolis (-10%) reeled from the impact of Isle of Capri Casinos‘ new Cape Girardeau casino (pictured). Independent Casino Queen, in East St. Louis (+4%) had a good month, as did Penn’s modestly grossing Alton Belle (+3.5%). So, after much suffering and long waiting, things are looking up in the Land of Lincoln. Trust that state’s legislators to take this tender bud of recovery and smoosh it as though they were Godzilla and the state’s casino industry were Tokyo. They never learn.