CasinoCityTimes.com

Gurus
News
Newsletter
Search News Subscribe
Stay informed with the
NEW Casino City Times newsletter!
Newsletter Signup
Stay informed with the
NEW Casino City Times newsletter!

Gaming News

 

Area Casinos Nickel-and-Dime Slots to Bigger Profit Margins

2 December 2002

CHICAGO – As reported by the Daily Southtown: ``Slot machines in Chicago-area casinos — which have embraced nickel-and-dime betting — have grown stingier the past four years, records show.

``The tougher odds have helped offset competition from rival casinos, increased gaming taxes in Illinois, and a bad economy that deters some recreational gamblers.

``According to reports from gaming regulators in Illinois and Indiana, the odds on electronic gaming devices — slot and video poker machines — in eight area casinos have been steadily moving in favor of the house since 1999.

``Under state law, Illinois casinos must return an average of at least $80 of every $100 wagered at the machines. But government-regulated casinos across the nation have always set their slots to give back much more than that.

``…In 1999, the top four casinos in Illinois — Elgin, two in Joliet, and Aurora — had an average slot machine 'hold' of 5.69 percent: They kept an average of $5.69 from every $100 wagered at the machines. Through the first nine months of this year, those same casinos are keeping an average of $6.61. …"

< Gaming News