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Guess What? Illinois Casinos Beat Recession By Tightening Slots

By Chuckmonster on Monday, 21st July 2008 6:01pm
  » filed under The Internets  comments: 0


It looks like the myth of casinos tightening up slot machines to make up for lower room rates and visitation in general holds water, if you believe this report from the BEEP (a publication of the Chicago Daily Herald).

Illinois' casinos have increased the number of slots in their casinos and ratcheted down the payback percentage of those in existence to turn a 13% decrease in visitors into a 20% increase in profit.

Illinois' nine casinos have managed to make 20 percent more cash from gamblers despite a 13 percent drop in visits between 2000 and 2007.

The amount of money pumped into slots has increased just 2 percent in that time, but the casinos' take has jumped 30 percent.

Casino operators are relying on tighter slot machines, ones programmed to keep more from every dollar bet. In 2000, 7 percent of suburban slots kept more than 10 cents of every dollar bet on average. Last year, 46 percent fell into that category.

The billion dollar question is whether or not Vegas is playing similar games during this belt-tightening period of economic insecurity. Only bean counters would think that rewarding those customers who buck the Vegas visitation downtrend with tighter slots is a good idea.



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