On Jan. 1, a smoking ban went into effect in the state of Illinois, banning smoking in virtually all public places including offices, theaters, museums, libraries, educational institutions, schools, commercial establishments, enclosed shopping centers and retail stores, restaurants, bars, private clubs and gaming facilities. As a result of the ban, Illinois riverboat casino revenues have dropped significantly compared to the same time last year.
In May of 2008, adjusted gross receipts for Illinois riverboat casinos dropped more than 14 percent compared to the same month in 2007, according to the Illinois Gaming Board's monthly report. Compared to the same time last year, total adjusted gross receipts for the calendar year-to-date through May 2008 have dropped almost 17 percent while casino attendance has decreased by a total of almost 6 percent. Moreover, since January of 2008 and the enactment of the smoking ban, adjusted gross receipts have dropped for all nine riverboat casinos in Illinois, compared to the same time last year.
Compared to May of last year, state and local tax allocations have dropped 23 percent and 12 percent respectively during this past May.
For the complete story, please see Dave Waddell, Illinois smoking ban sends casino revenues down, The Detroit News, July 2, 2008.
Subscribe to:
Post Comments (Atom)
Posts
No comments:
Post a Comment