Elgin casino revenue drops by 14% in 2011

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Updated: February 12, 2012 8:14AM

The Grand Victoria Casino in Elgin generated less money in 2011 even as the state’s gambling pot grew.

The impact of the new Rivers Casino in Des Plaines was evident.

In just under six months of business, the new casino generated about $177.5 million compared to the $256.9 million the Grand Victoria grossed for the entire year.

Although still the top casino in the state, the Elgin riverboat’s income for 2011 represents a drop of about 14 percent compared to the $293 million it took in the previous year.

Rivers Casino was the third-biggest money-maker in the state in 2011, according to the Illinois Gaming Board.

Harrah’s Joliet held on to its spot as the second-biggest money maker in the state, generating $223 million. That, however, was down $23 million from a year ago.

With an additional casino in business, the state received $17 million more in gaming taxes at $401 million.

Total casino revenues in the state were up by $103 million at $1.48 billion.

Rivers Casino continued to have an impact in December, marking another month in which it was the top grossing casino in Illinois.

At the Grand Victoria, gross receipts for December were just under $19 million, up about 13 percent from November’s $16.8 million but 12 percent less than the $21.6 million gate in December 2010. Of the other four suburban casinos, only Harrah’s Joliet showed December growth compared to a year ago. December revenue was up 6.6 percent.