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Monday, January 24, 2011

Hollywood Casino Aurora Continues to Shrink Revenue



Revenue figures for 2010 show declines for casinos in Illinois, even as some legislators hope to expand gambling to foolishly use it as a way to generate operating funds for Illinois.

State Senator Terry Link is one of those who believe the more casinos the state has, the more revenue it generates.  Most economists say that is flawed.  There's only so much of a gambling market and that continues to shrink overall.

As another suburban casino will open in the northern suburbs and Chicago may still seek a casino, all these spell trouble for the existing casinos such as Aurora's Hollywood Casino.

In 2010, revenue at Hollywood Casino dropped by over $21 million to just over $180 million for the year.

By comparison, there was also a drop of about $6 million at Grand Victoria in Elgin, but based upon overall revenue of about $287 million.

Both casinos in Joliet also saw drops in revenue.

So, as tax revenue declines and cities may need to learn not to rely on gambling income, what is the future of Hollywood Casino in Aurora?

5 comments:

Anonymous said...

good riddance. glad to see the casino fail in Aurora.

Anonymous said...

Must not have hit a jackpot huh?

Anonymous said...

Maybe the WHIZZ can guarantee a better outcome if he puts up his HOUSES for colatteral.

Anonymous said...

The casinos are losing money because of a bunch of morons downstate passed that NO-Smoking laws on all public buildings...no wonder why there revenue is dropping off. Like they said, the goverment should butt-out of our personal lives...let the private sector do what it wants and they will prosper in due time! leave well enough alone!

Anonymous said...

Hollywood could use a bit of renovation. Looks like a greyhound bus terminal with a lot of slots.
Seems like Penn has written this dog off.