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Fiona Simmons October 24, 2022 2 min read
Caesars Coughs Up $4M for Renovation at Grand Victoria Casino
Caesars Entertainment is going to invest another $4 million to improve its Grand Victoria Casino in Elgin, III., and introduce a number of amenities and gaming facilities. Among the planned improvements is an overhaul of the sportsbook along with a new poker room that will host the World Series of Poker events and regular competitions.
Renovation to Meet Growing Appetite for Gambling
The venue is located along the banks of the Fox River, and it already features impressive gaming facilities. The property comes with 1,088 slot machines, 12 poker tables, and 30 table games, along with the usual dining options. Most of this will be getting an overhaul through the new investment.
The new sportsbook and poker room, for example, will replace the Indulge Kitchen Buffet, the company stated in a press release. The sportsbook will also sprawl on 2,100 sq ft of space, whereas the poker room will actually be much bigger and take 4,400 sq ft of space, along with 20 tables total. Meanwhile, the sportsbook will offer a mix of self-service kiosks and cashier windows.
The update is definitely encouraging as it beckons that the state of Illinois is doing well and that interest in sports and poker is growing at a pace that justifies more significant investment in both verticals. Caesars is not one to shy from spending money to make its products better, and the latest uptake in both activities is definitely encouraging.
Meanwhile, Illinois is doing very well. It managed to raise $565 million in gross gaming revenue in August alone. Results have been much better, though, with the state actually bringing in $1 billion in total gross gaming revenue across its sportsbooks since the operations launched in March 2022.
Big Tax Dollar Flows from Gambling in Illinois
According to the Illinois Gaming Board, a total of $175 million has been paid to the state in tax revenue, an impressive number. The state is also possibly preparing to go ahead with online gambling as reported previously. Expanding into the online gambling space can bring great benefits to the state as well.
Online casinos are generally linked to higher gross gaming revenue and tax contributions. They are a permanent part of the landscape in New Jersey and have been so for years, not impinging on in-person visitations and in fact delivering a powerful financial boost to the Garden States. Illinois can benefit. In the meantime, Caesars Entertainment will continue investing