While the feasibility study of a Chicago casino by Union Gaming revealed that it would not be profitable for investors, the report has also found that slot machines installed at O’Hare International Airport and Chicago Midway International Airport could be feasible in terms of generating positive revenues.
The report estimates that the state could gross about $18.5 million annually through slot machines at Chicago airports.
Local newspaper Chicago Sun reports that the inquiry was prepared by Union Gaming Analytics and determined that such a quantity of slots in the two Chicago-area airports would annually bring in net revenues of approximately $36.5 million with some $12 million of this earmarked for the state’s largest city.
The report also mentions that the airport slots in Chicago could perform better than those in Nevada: “Ultimately, slot machines at Chicago airports should perform notably better than those in Nevada’s airports. As such, greater total revenues and taxes would be achieved by [allocating] a few hundred slot machines to Midway and O’Hare airports.”
Earlier this year, state Gov. J.B. Pritzker signed a massive gambling expansion bill which allowed for six different casinos at different locations in the state.
However, the challenge was to find a feasible location for the Chicago casino. Union gaming which was chosen by the state gambling regulators submitted its report which said that the Chicago casino would be a bad investment idea.