Small businesses throughout Illinois have enjoyed the economic boost thanks to video gaming. However, the city of Chicago does not currently allow video gaming. But there are many benefits that could occur if Chicago decides to finally opt-in to video gaming.
Here are a few:
Boost for Small Businesses
The average video gaming establishment in Illinois makes $60,000 per year in video gaming revenue. That’s an additional $60,000 per year those establishments can use to help pay their bills, invest into other areas of their business or spend on marketing and promotions. There are plenty of Chicago businesses that would definitely benefit from an extra $60,000 in annual revenue.
Opting into video gaming would also help create additional jobs in the area. Many establishments with video gaming need to hire additional staff in order to monitor their gaming rooms throughout the day. With the additional $60,000 in annual revenue (referenced above) businesses can pay for extra staff and create jobs in their businesses or alternatively, use that money to help the business stay afloat and ensure employees retain their jobs.
Revenue for the City
Five percent of all Net Terminal Income (NTI) from video gaming in Illinois goes straight back to the municipalities. According to data from the Illinois Gaming Board, in 2018 opted-in municipalities in Illinois made $75,000,000 from video gaming revenue, with the largest city receiving over $1.7 million in revenue. Chicago is by far the largest city in Illinois with 2.7 million people, with Aurora coming in second with 199,000. By volume alone, it is likely that the number of video gaming establishments and the number of people playing slot machines in Chicago would be greater than any other city in Illinois. And therefore, the amount of revenue Chicago would be able to generate from video gaming would be greater than most successful gaming cities in Illinois today.
That’s millions of dollars in additional revenue the city of Chicago could use to fix infrastructure, invest into schools, invest in businesses or any other ways they want to benefit the city and its residents.
Those sound like some pretty good reasons for Chicago to allow video gaming. If you’re a bar, restaurant, gas station or convenience store owner in Chicago who would be interested in adding video gaming to your business if the city decides to opt-in, head to JackpotChicago.com for more information.