Riverboat Casino Profits in Illinois Soar in September

If anyone is looking for a weekend getaway and wants to go someplace where they can do some gambling, it is not recommended that they go to Illinois, where $167 million was lost by gamblers on the states nine riverboats in September.

It took almost 1.4 million gamblers to reach the astronomical gross receipt numbers, but they all did their part as the average loss for these gamblers was around $170-$180, as the numbers varied from boat to boat.

Elgin was the spot where the most money was made as 206,567 gamblers lost $36 million, which is an average of $174 per person, and that was followed by East St. Louis and Joliet Harrah’s, where both places saw more gamblers than Elgin, but less money. East St. Louis brought in $18 million and Joliet Harrah’s received $30 million.

The numbers in the state were up 4.5% from last year, but down from their August numbers, still, the numbers are strong enough to allow for $67.6 million for the state and $9.7 million for local governments for the month of September.

Elgin is the leader in the year to date numbers also with $331 million being won from 1.8 million gamblers, that makes for an average loss of $177 per person.

Wynn Resorts Has Big Third Quarter Numbers And Eyes Casino Expansion

Wynn Resorts now holds casinos in both Macau and Las Vegas, the Worlds two biggest gambling destinations, and as the third quarter numbers were released, the company has said it is eyeing expansion in both markets.

Adjusted earnings were reported at $73.4 million and 67 cents a share, that is in comparison to last years numbers which were 1 cent a share and a $1.3 million loss.

Wynn holds a casino in Las Vegas but is set to expand as they are building the Encore at Wynn Las Vegas. It is a $2.2 billion project and the target date for it to be open is in 2009.

In Macau, the company has said that they are planning to add slots and table games to their existing property, and that should be complete in the next three months.

The existing property is not the only one that the company is hoping for in Macau as they have also put in an application to try and secure 52 acres of land for a future casino resort.

The expectations of Wynn Macau were that their initial earnings would be around $84 million, but the property actually came in at $92.8 million.

Shares 0

Leave a Reply

Your email address will not be published. Required fields are marked *