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Illinois May Turn to Gambling for Additional Revenues

Illinois May Turn to Gambling for Additional Revenues

The state of Illinois is desperately seeking ways to raise more revenue. Unsurprisingly a poll conducted by Southern Illinois University’s Paul Simon Institute of Public Policy shows that residents don’t want to see a tax increase.

The poll presented respondents with a number of options for increasing revenues such as higher sales tax, expanded gambling and taxing retirement income. The only option to receive a majority of support was expanded gambling (52.7% for, 43.7% against).

The poll comes as the state is considering raising the number of slot machines allowed at truck stops in order to increase revenue from out-of-state drivers. At present truck stops can have five slot machines; the new plan seeks to double that.

Pilot truck stop manager Aaron Vines said that it was a slow start when the machines were introduced in January, but there has been a steady increase in usage ever since. Last month his five machines brought in more than $30,000 in revenue for the business.

At present gambling bringing in almost $10 million in tax revenue for the state every month. With the state in dire need of additional revenue it wouldn’t be surprising to see an expansion of gambling in the coming months.

OCA News Editor

Jenny McKinnley is OCA’s financial correspondent. After spending years on the trading floor in both NY and London, she offers insight from the inside out on world financial news and events.

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