Grand victoria casino elgin
Grand Victoria Casino Elgin
| Grand Victoria Casino Elgin | |
|---|---|
| Location | Elgin, IL United States |
| Address | South Grove Avenue |
| Opening date | October 6, |
| Total gaming space | 29,&#;sq&#;ft (2,&#;m2) |
| Notable restaurants | Buckinghams Indulge Prime Burger Bar Crave Deli |
| Casino type | Riverboat |
| Owner | Caesars Entertainment |
| Public transit access | |
| Website | thisisnl.nl |
The Grand Victoria Casino Elgin is a riverboat casino in Elgin, Illinois, United States, located about 40&#;mi (64&#;km) west of Chicago.[1] It is owned and operated by Caesars Entertainment.
History[edit]
The casino was developed by Gold Strike Resorts and Hyatt.[2] It opened its doors on October 6, [2]
Gold Strike was acquired in by Circus Circus Enterprises, which later changed its name to Mandalay Resort Group, and was then acquired by MGM Mirage in [3] At the time of the merger in , management of the property was transferred from Mandalay to Hyatt.[4]
In August , MGM and Hyatt sold the casino to Eldorado Resorts (later renamed as Caesars Entertainment) for $M.[5][6]
Casino[edit]
The casino employs about 1, people.[7] The 29,&#;sq&#;ft (2,&#;m2) facility consists of approximately 1, video poker and slot machines in addition to 36 table games.[8]
In addition to games, the casino has banquet and dining facilities including Buckinghams, Crave Deli, and Slice Pizzeria.[9]
Economic contributions[edit]
Each year the Grand Victoria Casino Elgin donates % of its adjusted net operating income to the Kane County Board and % to the Grand Victoria Foundation.[7] In , Kane County received about $8 million to use for internal programs, about $1 million of which was available for projects benefiting the county's educational, environmental, and economic needs.[10] Grants for these projects are recommended by Kane County's riverboat committee, but both the executive committee and the county board must approve the funds before they can be distributed.
In addition to the Kane County Board and the Grand Victoria Foundation, The city of Elgin receives its own portion of the Grand Victoria's revenue. Casino profits led to the removal of the $25 vehicle license fee as well as a yearly property tax rebate for senior citizens.[11] Today, the city continues to allocate funds for housing restoration. In specifically, the city allocated twice as much money as usual for housing rehabilitation.[12] Money is also dedicated to the following causes:
- Toy collecting
- Not-for-profit organizations
The Grand Victoria Foundation sponsors additional community programs, such as film screenings, at Gail Borden Public Library in Elgin.[13]
Revenue reports since [edit]
According to the Daily Herald, in the Grand Victoria Casino Elgin generated more revenue than any other Illinois casino,taking in $ million, a rise of 13% since This increase in revenue came as a result of tightening slot machines, and occurred despite a 32% drop in attendance between and [14][15]
As Illinois Gaming Board reports illustrate, the economic recession led to an overall decrease in revenue among Illinois casinos, particularly the Grand Victoria. The casino's revenue of $25 million for the month of February, was down % from the previous year and down 24% from [16][17] The Smoke Free Illinois Act, which banned smoking in all enclosed workplaces beginning January 1, , also severely reduced casino attendance.[18][19] Casino industry officials estimated that Illinois would receive about 20% less in monetary contributions from the casino over the course of , a difference of nearly $ million.[20]
In an attempt to make up for lost revenue, the Grand Victoria and other Illinois riverboat casinos petitioned for permission to distribute free alcoholic beverages. Supporters of a proposed bill said that the existing law was unclear, while opposing groups cited increased gambling addiction as a likely consequence if free alcohol distribution were to be legalized.[21]
In , the Grand Victoria was third among Illinois riverboat casinos, with gross receipts of $ billion.[22]
References[edit]
- ^Sanborn, Tele Atlas (), Google Maps, retrieved
- ^ abSiewers, Alf (October 7, ). "Elgin sees dollar signs as casino boat sets sail". Chicago Sun-Times &#; via NewsBank.
- ^IL Campaign for Political Reform, , archived from the original on , retrieved
- ^"Hyatt affiliate to manage Grand Victoria". Kane County Chronicle. Geneva, IL. April 29, &#; via NewsBank.
- ^Corilyn Shropshire (April 16, ). "Elgin's Grand Victoria Casino to sell for $ million". Chicago Tribune. Retrieved
- ^"Eldorado Resorts completes acquisition of Grand Victoria Casino" (Press release). Eldorado Resorts. August 7, Retrieved &#; via Business Wire.
- ^ abIllinois Casino and Gambling Association, Grand Victoria Casino, archived from the original on , retrieved
- ^Elgin Riverboat Resort D.B.A. Grand Victoria Casino (–), Grand Victoria Casino Elgin - Property Overview, archived from the original on , retrieved
- ^Elgin Riverboat Resort D.B.A. Grand Victoria Casino (–), Grand Victoria Casino Elgin - Dining, archived from the original on , retrieved
- ^Hague, Leslie (), Daily thisisnl.nl, retrieved
- ^Alft, E.C., thisisnl.nl, retrieved
- ^Moylan, Sue (), Daily thisisnl.nl, retrieved
- ^Moylan, Sue (), Daily thisisnl.nl, retrieved
- ^Ryan, Joseph (), Daily thisisnl.nl, retrieved
- ^Ryan, Joseph (), Daily thisisnl.nl, retrieved
- ^Illinois Gaming Board (), Illinois Gaming Board(PDF), archived from the original(PDF) on , retrieved
- ^Johnson, Steven Ross (), Suburban Chicago News, retrieved
- ^Illinois General Assembly, retrieved
- ^Casino City Times, retrieved
- ^Filas, Lee (), Daily thisisnl.nl, retrieved
- ^Associated Press (), Daily thisisnl.nl, retrieved
- ^"Illinois Gaming Board - Annual Reports". thisisnl.nl. Retrieved
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