Caesars Entertainment has spent $4 million to refurbish the Grand Victoria Casino in Elgin, III. The new property now has a World Series of Poker (WSOP) and sportsbook venues.
The casino sits 38 miles west of Chicago along the Fox River in Illinois. It features over 25 table games and 1000 slot machines.
It also has a poker room holding 20 tables and four dining venues. Eldorado Resorts, the parent company of Caesars Entertainment, bought the casino in 2018 for $327.5 million.
The new sports betting venue and WSOP poker room stand on Indulge Kitchen Buffet's previously occupied space. The poker room takes up the largest space, 4,400 square, while Caesars Sportsbook occupies around 2,100 square feet.
The two venues have shared space featuring a full-service bar with bartop gaming and a lounge area with 20 LED TVs. Visitors will get meals and drinks from the Crave Deli and The Slice Pizzeria & Pasta.
Sports bettors will gain access through three one-on-one windows or at any of the four self-service kiosks. Meanwhile, the Grand Victoria casino is expected to host its first WSOP tournament in Illinois in November.
The casino has already opened the refurbished rooms with a grand opening that saw a guest appearance, WSOP Main Event Champion Chris Moneymaker. Chris is also a Poker Hall of Fame inductee. The ceremony included a ribbon cutting.
Perfect Timing?
The Senior Vice President and General Manager of Grand Victoria Casino Elgin, Per Rolando Guerrero, was proud to open the luxurious space for poker and sports fans.
He noted that the brand was dedicated to creating comfortable venues with world-class amenities for visitors to enjoy live poker and sporting events.
Opening the sportsbook and poker room at Grand Victoria Casino seems perfect as Illinois is increasingly becoming a competitive market. Caesars` move comes weeks after its competitors announced their plans to transfer their riverboats to land.
Penn Entertainment announced at the beginning of October that it was spending over $350 million to move its Hollywood riverboat casino in Aurora onto land. It will also spend over $180 million to move the riverboat gaming property onto land in Joliet.
Illinois is barely three years since it regulated sports betting. Yet, it is rapidly climbing to the top.
According to statistics released by the Illinois Gaming Board, the state generated over $560 million in gross revenue in August. This ranked the state second, just behind New York. It generated more money than New Jersey and other states.
Illinois has generated over $1 billion in gross revenue since March 2020. It has over $175 million in tax revenue. Caesars also operates Harrah's Metropolis and Harrah's Joliet.
Caesars Sportsbook
Caesars Sportsbook is among the country's top five largest bookmakers behind FanDuel, BetMGM, and DraftKings. Illinois players will use the platform to place their bets online or via mobile with Caesars Sportsbook.
While Caesars was among the first sportsbooks to reduce advertising spending, it will lead in making profits from online sports betting and gaming. The operator reduced its marketing spending, claiming it was amassing incredible market share through a more cost-effective process.
The addition of the sportsbook venue will contribute to Elgin casino attracting an outstanding share of the growing Illinois betting market.
