Video gaming spreads in Illinois, yielding revenue for state
|Friday, January 25, 2013 at 05:13 PM
The start of video gaming in Illinois netted the state $1 million in November, and those figures could climb much higher in the months and years ahead.
Under a law passed in 2009, up to five video gaming terminals are allowed at truck stops and at Illinois businesses with licenses to sell alcohol onsite, the Quad-Cities Times reports. The rollout of video poker, blackjack and other games began in October. In November, wagering activity on the more than 1,400 terminals in the state totaled $50.2 million.
Income from the video gaming terminals is taxed at a rate of 30 percent — with that revenue divided between the state (which gets most of it) and the municipality where the video gaming activity takes place. According to the Chicago Tribune, state officials estimate that 75,000 machines will evenutally be up and running, generating $375 million in annual revenue. That money will be used to fund construction projects.
In fiscal year 2009, gaming revenue accounted for 3.1 percent of Illinois’ own-source revenue, according to the Rockefeller Institute of Government. The national state average that year was 2.4 percent. In the Midwest, it ranged from a high of 6.2 percent (South Dakota) to a low of 0.2 percent (North Dakota).