IDNSport – Illinois working on new casino plans as sports betting revenues fall,
Lots of things are happening in the gambling industry of Illinois. The state Gaming Board has revealed that the casino license winners for Waukegan and south suburban venues will be announced in early 2022. There are several potential bids for each category and those applications will be reviewed before a winner is chosen. In the sports betting sector, revenues are down in July, after a record-setting May. Across the United States, sports betting numbers are decreasing due to a lack of sports options. Of course, betting should ramp back up this month as the NFL and NCAAF seasons are already underway.
New Casino License Decisions Coming Soon
Lets start with the new casino details. Marcus Fruchter, the administrator for the Illinois Gaming Board (IGB) stated during this weeks board meeting that the license decision for Waukegan and south suburban casinos will be made by January.
The law of the state requires the board to hire a consultant to review the applicants if there is more than one bid in play. There are three bids in each location, so a consultant is needed. The individual was hired in early July and the board will have its decision six months from then.
In Waukegan, CDI-RSG Waukegan, LLC has submitted plans for a Rivers Waukegan Casino. Full House Resorts, Inc. has submitted plans for a venue called American Place. Lakeside Casino, LLC is the last applicant, set to offer the North Point Casino.
For the south suburban license, Southland LIVE, LLC has submitted plans for Southland Live. South Suburban Development, LLC and Wind Creek, LLC have also provided proposals, but there are no details on venue names.
Next month, a special board meeting will be held to allow applicants to provide details of their casino plans to the board.
Sports Betting Revenue Dip
Now, lets switch over to sports betting. The industry has done well thus far this year, with May setting a new record for the state. Fast forward to July and the state has posted just over $369 million in betting handle, which is the lowest for the state since September of last year.
From that number, the sportsbooks in the state were able to earn over $37 million in revenues. This was a significant drop from the $48.2 million in June. Bettors in the state were focused on wagering in the baseball category, with $124 million in wagers placed. The NBA Finals took place then too, but it was not popular enough to make a big difference in earnings.
FanDuel was the top earner for the month, bringing in just over $15.5 million in revenues. DraftKings was not too far behind with just over $9.5 million.