"It's kind of like bingo that we play in churches all throughout the state," Blagojevich said at an appearance in Decatur.
Based off a study done by a Professor at U of I that in Montana 37% of Keno revenue comes from problem and pathological gamblers. Just like at church.
In Mass. in FY 2001-2002 Keno generated $640 million in sales and $141 million in net revenue. That works out to about a 22% return so in order for the state to get $80 million in net revenue the state would have to have about a million dollars a day 365 days a year spent on Keno. 365 Million * .22 (return) = 80.3 Million.
The busiest casino in the state (Elgin) did about 33 Million in Adjusted gross receipts in November. In FY 2004 total lottery sales in Illinois were $1.7 Billion. So this proposal to meet it's numbers would require an over 20% overall boost in revenues for the lottery or Illinois Keno would become the states second largest casino.
Also for what it is worth Keno is a bad actual bet (see #1). For some of the math behind Keno follow the link. To learn how someone cheated a NJ casino at Keno go here.
OneMan
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