Illinois grants sports betting licenses to seven casinos. However, local bettors don’t have any place to wager on games because casinos remained closed in the state due to the coronavirus. Also, online sportsbooks can’t operate at present. They have an 18-month penalty box period before they can launch their online services in the state. The licenses bring at least $40 million into the state budget via the sportsbook fees. The fees varied from one casino to another based on their gross revenue last year. However, the charges have a limit of $10 million. In 2019, casinos in Illinois earned more than $114 million for the state. Also, video gambling terminals paid $147 million in taxes. Governor J.B. Pritzker signed an amended operating budget that relied on borrowing after the state suffered a $2.7 billion deficit due to the coronavirus shutdown. Illinois Grants Sports Betting LicensesThree months ago, Illinois gave temporary operating permits to Argosy Casino Alton and Rivers. However, coronavirus pandemic spoiled their launch. Thus, ten casinos remained close since March 16, according to pay per head sportsbook reports. The Gaming Board approved the license s during a virtual meeting. It was the first meeting the agency held in four months. During the meeting, it awarded licenses to seven casinos, including Rivers and Argosy Casino Alton. According to pay per head services providers, the other casinos with sports betting licenses are Grand Victoria, two Hollywood Casinos, Par-A-Dice, and Casino Queen. Licenses need to be renewed every four years for a fee of $1 million. Based on bookie pay per head services sources, the awarding of licenses to land-based casinos started the 18-month grace period for the launch of online sportsbooks. The state gave casinos a head start to punish daily fantasy sports operators that operated in the gray area of the law. Also, online sportsbooks need to pay $20 million to operate in the state.
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December 2021
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