Analysis: Empress Casino, Joliet
With the help of tighter, video-based slot machines, Empress Casino operators managed to bolster revenue even as business crashed under fierce competition from neighboring Harrah's Casino in Joliet.
Empress took in 2 percent more revenue in 2007 than in 2000, but had about 400,000 fewer visits and 21 percent less money wagered in that same time span.
A Daily Herald review of state records shows operators fought the downturn by more than doubling the number of tighter, more enticing slots between 2001 and 2005.
In 2005, revenue finally turned around along with an increase in penny, 2-cent and nickel slots.
In 2007, the casino owners collected nearly 13 cents from every dollar wagered, on average, from their 214 two-cent slots and 367 nickel slots. Back in 2000, the tightest slots were the 130 nickel machines that withheld just under 11 cents from every dollar.
John Finamore, regional vice president of operations for Pennsylvania-based Penn National Gaming Inc., which owns Empress, said the move followed player preferences.
"This is the product the customers want to play now," he said.
The shift also brought in more cash.
In 2000, nickel slot players at Empress pumped $230 million into 130 machines, giving the casino a revenue stream of $24.5 million.
In 2007, gamblers wagered close to $800 million on the stingiest slots, turning $105 million over to casino operators. <div class="infoBox"> <h1>More Coverage</h1> <div class="infoBoxContent"> <div class="infoArea"> <h2>Stories</h2> <ul class="links"> <li><a href="/story/?id=221651">Illinois casinos beat the odds with tighter slot machines <span class="date">[07/20/08]</span></a></li> <li><a href="/story/?id=221383">Analysis: Hollywood Casino, Aurora <span class="date">[07/20/08]</span></a></li> <li><a href="/story/?id=221381">Analysis: Grand Victoria, Elgin <span class="date">[07/20/08]</span></a></li> <li><a href="/story/?id=221384">Analysis: Empress Casino, Joliet <span class="date">[07/20/08]</span></a></li> <li><a href="/story/?id=221382">Analysis: Harrah's Casino, Joliet <span class="date">[07/20/08]</span></a></li> </ul> <h2>Video</h2> <ul class="video"> <li><a href="/multimedia/?category=9&type=video&item=185">State casnios beating the odds </a></li> </ul> </div> </div> </div>