>For the first quarter, Bally’s Chicago generated nearly $30.3 million in adjusted gross receipts and more than $3 million in local tax revenue, according to Gaming Board data. That is still far off the pace needed to meet Chicago’s revenue target for its first casino.
As any investor in gaming stocks will tell you, the “ big boys “ in the industry ( Wynn, Penn Gaming, etc.) will drop an underperforming property like a hot potato. Millions and millions of dollars in revenue may dazzle the average person, but if billions and billions are projected but not made, the “ For Sale “ sign comes up very quickly thereafter.
The greater Chicago land market is over saturated with various gaming offerings.
Slots in almost every restaurant and gin mill, casinos in major cities. the money is tapped out, even bookies will tell you this area cannot support additional gaming options.
As any investor in gaming stocks will tell you, the “ big boys “ in the industry ( Wynn, Penn Gaming, etc.) will drop an underperforming property like a hot potato. Millions and millions of dollars in revenue may dazzle the average person, but if billions and billions are projected but not made, the “ For Sale “ sign comes up very quickly thereafter.
The greater Chicago land market is over saturated with various gaming offerings.
Slots in almost every restaurant and gin mill, casinos in major cities. the money is tapped out, even bookies will tell you this area cannot support additional gaming options.
Sports book via the cell phone will soon have bookies and book rooms at casinos on the scrap heap with phone booths, fax machines, land lines etc.