Illinois Gaming Board renews seven retail sports betting licences
11 June 2024 - 17:04In a landmark move, the Illinois Gaming Board has issued renewal of seven retail sports betting licenses, marking a significant milestone since the initiation of wagering activities back in March 2020.
Under the helm of Illinois Gaming Board administrator Marcus Fruchter, empowered by extended authorities in the wake of the Covid-19 crisis and subsequently renewed annually, the board has granted four-year license extensions up to June 2028. The beneficiaries of this renewal include Argosy Casino Alton, DraftKings at Casino Queen in East St. Louis, Grand Victoria Casino in Elgin, Hollywood Casino Aurora, Hollywood Casino Joliet, Rivers Casino in Des Plaines, and Par-A-Dice Hotel Casino in East Peoria.
Currently boasting 15 retail sports betting locations, Illinois witnessed the recent addition of DraftKings at Wrigley Field in March, further diversifying the state's betting landscape. As part of its fiscal strategy for the upcoming year, Illinois has proposed a progressive sports betting tax structure. Under this plan, the initial $30 million in revenue will incur a 20% tax rate, with subsequent brackets seeing incremental increases up to a maximum of 40% for revenues surpassing $200 million.