Recently, Illinois Gaming Board (IGB) granted bet365 a new license and allowed the company to enter the state’s expanding sports betting market.
The Illinois Gaming Board (IGB) has granted a Master Sports Wagering License to Walker’s Bluff Casino Resort, LLC, and a Management Services Provider License to Hillside LLC, which will operate under the bet365 brand. This partnership will allow Walker’s Bluff and bet365 to offer retail and online sports betting in Illinois, once they receive the necessary regulatory approvals.
Since Illinois legalized sports betting in 2020, the industry has seen remarkable growth, turning what was once an illegal market into a major source of state revenue. Sportsbooks in the state have reported $41.3 billion in wagers and $3.4 billion in revenue. DraftKings alone took in $4 billion in wagers through October, while FanDuel reported $3.7 billion.
In addition, operators have paid up to $25 million per license, with the industry contributing over $155 million in state and local taxes in 2023. Bet365 has also expanded its presence across the US, now operating in 12 states, including New Jersey, Colorado, Virginia, Iowa, and Ohio. With 38 states legalizing sports betting in some form, more than 20, including Illinois, have approved online sportsbooks.
llinois Welcomes New Casino with Latest License Approval
Along with the sports betting license, the Illinois Gaming Board (IGB) has issued a new casino owner’s license, the 16th in the state, to Wind Creek IL LLC for its Wind Creek Chicago Southland property. This marks another step in Illinois’ growth under the 2019 gaming legislation, which authorized six new casino licenses.
IGB Administrator Marcus D. Fruchter emphasized the positive financial impact of these expansions, with noting that the IGB has collected over $386 million in application and licensing fees from operators of the newly licensed casinos since the first one, located in Rockford, began operating three years ago. These funds have been directed to Illinois’ Rebuild fund, supporting essential infrastructure projects across the state.
Although Illinois has legalized sports betting, the state has not yet approved online casino gaming. Supporters believe that regulating and taxing online casinos could provide a substantial boost to the state’s revenue.
Charles Gillespie, CEO of Gambling.com Group, estimates that iGaming could bring in nearly $10 billion in new revenue over the next five years, making it a major opportunity for the state.
State Representative Edgar Gonzalez Jr. has been a strong advocate for iGaming in Illinois. Despite setbacks in recent attempts to pass online casino bills, he remains committed to pushing for new legislation in 2025. Gonzalez aims to tap into this potential revenue stream while ensuring strong regulations to address any concerns about the industry.
For companies like bet365, this development could be key. While bet365 is a major player in sports betting, its online casino operations haven’t seen the same success in the states where it’s active. For instance, in Pennsylvania, Presque Isle Downs and Casino, which partners with bet365 for iGaming, reported $2.1 million in online casino revenue for November. This placed it among the lowest performers out of the 12 licensed operators in the state with emphasizing the challenges bet365 faces in the iGaming space.
