Grand Victoria Casino Elgin

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Grand Victoria Casino Elgin
Grand victoria casino elgin logo.gif
Address 250 South Grove Avenue

Elgin, IL 60120 USA

Total gaming space 29,850 sq ft (2,773 m2)
Notable restaurants Buckinghams
Grand Victoria Buffet
Prime Burger Bar
Crave Deli
Casino type Riverboat
Owner MGM Resorts International and Hyatt
Website http://www.grandvictoriacasino.com

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 50% owned and operated by RBG, LLP, a subsidiary of Hyatt, and 50% by a subsidiary of MGM Resorts International, which acquired Mandalay Resort Group, the former 50% partner company, in April 2005.[2] The casino opened its doors in 1994 and employs about 1,440 people.[3] The 29,850 sq ft (2,773 m2) facility consists of approximately 1,100 video poker and slot machines in addition to the following table games:[4]

In addition to games, the casino has banquet and dining facilities including Buckinghams, Grand Victoria Buffet, Crave Deli, and the Prime Burger Bar.[5]

Economic contributions[edit]

Each year the Grand Victoria Casino Elgin donates 7.5% of its adjusted net operating income to the Kane County Board and 12.5% to the Grand Victoria Foundation.[3] In 2008, 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.[6] 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.[7] Today, the city continues to allocate funds for housing restoration. In 2007 specifically, the city allocated twice as much money as usual for housing rehabilitation.[8] 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.[9]

Revenue reports since 2000[edit]

According to the Daily Herald, the Grand Victoria Casino Elgin generates more revenue than any other Illinois casino. In 2007, the casino took in $437 million, a rise of 13% since 2000. This increase in revenue came as a result of tightening slot machines, and occurred despite a 32% drop in attendance between 2000 and 2007.[10][11]

As Illinois Gaming Board reports illustrate, the 2008-2009 economic recession has 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, 2009 was down 9.9% from the previous year and down 24% from 2007.[12][13] The Smoke Free Illinois Act, which banned smoking in all enclosed workplaces beginning January 1, 2008, also severely reduced casino attendance.[14][15] Casino industry officials estimated that Illinois would receive about 20% less in monetary contributions from the casino over the course of 2008, a difference of nearly $144 million.[16]

In an attempt to make up for lost revenue, the Grand Victoria and other Illinois riverboat casinos are petitioning for permission to distribute free alcoholic beverages. Supporters of a proposed bill say that the current law is unclear, while opposing groups cite increased gambling addiction as a likely consequence if free alcohol distribution is legalized.[17]

References[edit]

  1. ^ Sanborn, Tele Atlas (2009), Google Maps, retrieved 2009-03-29 
  2. ^ IL Campaign for Political Reform, 2005, retrieved 2009-04-02 
  3. ^ a b Illinois Casino and Gambling Association, Grand Victoria Casino, retrieved 2009-03-02 
  4. ^ Elgin Riverboat Resort D.B.A. Grand Victoria Casino (1998–2009), Grand Victoria Casino Elgin - Property Overview, retrieved 2009-03-29 
  5. ^ Elgin Riverboat Resort D.B.A. Grand Victoria Casino (1998–2009), Grand Victoria Casino Elgin - Dining, retrieved 2009-03-29 
  6. ^ Hague, Leslie (2008), Daily Herald.com, retrieved 2009-03-31 
  7. ^ Alft, E.C., ElginHistory.com, retrieved 2009-04-02 
  8. ^ Moylan, Sue (2008), Daily Herald.com, retrieved 2009-03-31 
  9. ^ Moylan, Sue (2008), Daily Herald.com, retrieved 2009-03-31 
  10. ^ Ryan, Joseph (2008), Daily Herald.com, retrieved 2009-03-31 
  11. ^ Ryan, Joseph (2008), Daily Herald.com, retrieved 2009-03-31 
  12. ^ Illinois Gaming Board (2009), Illinois Gaming Board, retrieved 2009-03-31 
  13. ^ Johnson, Steven Ross (2009), Suburban Chicago News, retrieved 2009-03-31 
  14. ^ Illinois General Assembly, retrieved 2009-04-02 
  15. ^ Casino City Times, retrieved 2009-04-02 
  16. ^ Filas, Lee (2008), Daily Herald.com, retrieved 2009-04-02 
  17. ^ Associated Press (2009), Daily Herald.com, retrieved 2009-04-02 

Coordinates: 42°01′52″N 88°16′49″W / 42.031046°N 88.280318°W / 42.031046; -88.280318