How the casino industry is performing in Illinois this year

The casino industry in Illinois is experiencing significant growth in 2024, driven by increased tourism and a more comprehensive array of gaming options. This expansion sets the stage for potential future developments, including the possible legalization of online casinos, which could further boost the industry's performance.

An overview of Illinois’ casino industry

The casino industry in Illinois has a rich history that dates back to the early 1990s when the first riverboat casinos opened. These floating casinos were the first introduction of legal gambling in the state. They rapidly developed into a significant source of revenue.

As the years went by and public interest in gambling became increasingly positive, Illinois entered the era of land-based casinos, an evolution in attitudes about gambling. The shift created larger, more permanent establishments, offering a wider array of entertainment options to further stimulate the economy.

Performance of the casino industry

In 2024, Illinois's casino industry is performing heavily, with revenue growth driven by expanding existing casinos and new market entrants. Moreover, the state's casinos significantly contribute to local economies and state budgets, supporting public projects like infrastructure and education. Additionally, revenue from gambling taxes remains a substantial part of the state's income, signaling stable sector performance.

Trends shaping the gambling industry

Recent trends have seen brick-and-mortar casinos expand their facilities to include entertainment centers with luxury amenities. Meanwhile, the surge in sports betting-like action from this online casino, legalized in Illinois in 2020, has significantly boosted the state's gaming revenues. Additionally, the growing interest in online gambling, driven by legalization in many other states, is increasing pressure on Illinois to follow suit.

What to expect in the future

Illinois lawmakers are considering a 2025 bill to introduce online casinos to the state. The bill would allow residents to enjoy a modern gaming experience from their homes. Such a move could boost state revenues and position Illinois as a leader in the digital gaming revolution. Let’s take a quick look at these bills.

• House Bill 2239 was introduced to legalize online gambling in Illinois, effective 2025. House Bill 2239 was presented by State Rep. Edgar Gonzalez Jr., and Senate Bill 1565 was presented by State Sen. Cristina Castro; either would legalize iGaming within the state. Both bills levied a revenue tax of 15%, with operator licenses costing $250,000. In the meantime, these bills did not advance beyond the committee, postponing any movement on these bills until the following legislative year of 2025.

• House Bill 2320 was another version of the Internet Gaming Act, House Bill 2320, presented by Rep. Jonathan Carroll, diminishes the tax rate to 12% while increasing the licensing fee to $500,000. Although there is some common ground between the bills, their respective tax and fee schedules belie different strategies for regulating the online casino market in Illinois​.

The benefits of legalizing online gambling in Illinois

Legalizing online gambling in Illinois would bring significant benefits, including increased tax revenue for the state, which could fund public services such as education and infrastructure. It would also create new jobs in tech and customer service, and boost local businesses that partner with online platforms. 

What’s more, legal online gambling would offer residents a safer, regulated alternative to unlicensed offshore sites, ensuring consumer protection and responsible gaming measures are enforced. This move makes Illinois competitive in the growing online gambling market.

Key insights on how the industry is performing

The gaming industry has experienced significant growth and transformation in recent years. Key trends and performance metrics highlight the sector’s dynamic changes and emerging opportunities. Below are some key insights into how the industry is currently performing:

• Economic Impact: Illinois casinos offer job creation, boost tourism, and support local businesses. Gambling taxes generate state revenue to fund public projects like infrastructure and education.

• Comparison with Neighboring States: Illinois' casino performance contrasts Indiana and Michigan, where legal online gambling drives higher revenue and growth potential.

• Sports Betting Boom: Since its 2019 legalization, sports betting in Illinois has surged, with partnerships between sportsbooks and local sports teams.

• Social and Legislative Debates: Ongoing debates about expanding gambling in Illinois focus on addiction concerns and opposition from brick-and-mortar casinos to online gaming. Discussions also revolve around the 2025 online gambling bill.

• Technological Advancements: Technology is shaping the future of the casino industry, with mobile betting apps and potential innovations like virtual reality gambling, which could become part of Illinois' casino scene if online gaming is legalized.

Prospects for the Illinois casino industry

As the casino industry evolves, Illinois is poised for further growth. Whether through expanding traditional casino spaces or potentially including online platforms, the state’s gambling landscape could undergo a significant transformation. Looking ahead, Illinois may become a leader in both physical and online gaming, securing its place in the future of the casino industry.