April 26, 2023 - The Chicago Journal

Breaking Down the Numbers: How Michigan’s Online Gambling Revenue Could Serve as a Model for Chicago’s Economic Growth

The Chicago Journal Staff on April 26, 2023

Michigan’s online sports betting and online casino gambling platforms have seen steady growth, propelling it to the top of the US iGaming market. Chicago is thinking about legalizing online gambling, and Michigan’s success could serve as a model for the city’s future economic growth. This article will examine the iGaming market in Michigan, including the numbers and factors that contributed to its success, as well as the potential benefits and challenges for Chicago if it follows suit.

According to the Michigan Gaming Control Board, Michigan’s sportsbooks and online casinos experienced significant growth in 2022, establishing the state as a market leader in the iGaming industry. Michigan’s sportsbook handle was 30-50% higher in 2022 than it was in 2021. Furthermore, the adjusted gross revenue (AGR) of sportsbooks in April 2022 was 53% higher than the previous year, and the AGR in May 2022 was 127% higher than the AGR in May 2021. However, sportsbook AGR decreased in November 2022 compared to November 2021.

In 2022, Michigan’s sportsbooks paid 181% of the state and city taxes they paid in 2021, making it a profitable year for the industry. Online casinos also saw significant growth, making just over $1 billion in 2021 and exceeding $1.4 billion in 2022.

Retail casinos in Detroit, such as MGM Grand Detroit (BetMGM), MotorCity Casino (FanDuel), and Greektown Casino (Barstool), brought in a total of $1.257 billion in revenue for 2022. Although this was slightly less than in 2021, the numbers were realistically nearly identical.

Most of Michigan’s internet gambling tax revenue comes from online casinos, a pattern that continued through 2022. This balance offsets the seasonality of sports betting and maintains a steady revenue stream.

Chicago’s Economic Situation

Chicago has long been known as a hub for various industries, with the manufacturing industry playing a vital role in the city’s economy. This sector accounts for over $92 billion in annual economic activity. However, despite the immense contribution of manufacturing, Chicago’s economy has experienced two consecutive quarterly dips in economic activity in 2022, sparking fears of a possible recession.

In light of this unsettling trend, it’s crucial that Chicago takes action to identify and develop new revenue streams. This is where Michigan casinos online come into the picture, serving as a great example of how online gambling could boost the local economy.

As we’ve seen, the current economic situation in Chicago calls for innovative solutions that can help generate additional income for the city. Being home to various sports teams and the increasing popularity of online activities, online gambling could be just the ticket to help boost Chicago’s economy.

Revenue Generation Opportunities Presented by Online Gambling

The legalization of online gambling has proven to be a major driver of economic growth in many states. Michigan online casinos are a prime example of this, having experienced a significant increase in tax revenue since the introduction of online gambling. This increase in revenue has provided vital funds for various public services, infrastructure projects, and education. In fact, within the first six months of its launch, online gambling in Michigan generated over $90 million in tax revenue, demonstrating its potential as a reliable source of revenue.

Chicago can look to Michigan’s success as a blueprint for implementing online gambling in the city. By legalizing and regulating online gambling, Chicago could tap into a new source of income that can be used to support its public services, infrastructure, and education system.

Moreover, online gambling can also create numerous job opportunities in the technology, customer service, and marketing sectors, further boosting the local economy. This, in turn, will help alleviate some of the economic challenges currently facing the city.

Potential Benefits for Chicago’s Economy

Chicago, the bustling heart of the Midwest, has always been a city of innovation, determination, and opportunity. As we explore new ways to stimulate economic growth, we can look to our neighbors in Michigan for inspiration. Their recent success with online gambling has proven to be a valuable model that could work wonders for Windy City. Let’s take a closer look at some of the potential benefits that could come with embracing online gambling in Chicago.

Increased Tax Revenue for the City and State

Michigan Source: Image by Drazen on Freepik

One of the most significant advantages of adopting online gambling is the increased tax revenue it could generate. In 2020 alone, Michigan collected over $90 million in taxes from online gambling and sports betting, a number that continues to grow as the industry expands. With these additional funds, Chicago could invest in much-needed infrastructure projects, educational initiatives, and public services, benefiting residents and businesses.

Job Creation in the Gambling Industry and Associated Sectors

Online gambling is a lucrative source of revenue and a job creator. The industry has generated over 3,000 direct and indirect jobs in Michigan since its inception. This is a conservative estimate as the industry continues to grow. With its larger population and workforce, Chicago could see even greater job growth in this sector. From software developers to customer service representatives, the online gambling industry offers many opportunities for Chicagoans to find stable and well-paying jobs.

Boost to Tourism and Hospitality Industries

With its stunning architecture, Chicago is already a popular tourist destination, it has world-class museums and a vibrant food scene. Embracing online gambling could further enhance the city’s appeal as a vacation hotspot. Drawing inspiration from Michigan’s recent success, we expect an uptick in tourism-related spending on accommodations, restaurants, and local attractions. This would create a ripple effect in the hospitality industry, fostering job growth and benefiting local businesses.

Opportunities for Local Businesses and Partnerships

Beyond the direct benefits of tax revenue and job creation, online gambling can spur many opportunities for local businesses and partnerships. From advertising and marketing services to software development and data analytics, businesses in various industries can find a niche in this thriving market. Moreover, local brick-and-mortar casinos could partner with online gambling platforms to offer their patrons an integrated experience, further solidifying Chicago’s reputation as an entertainment hub.

Summary

As we look to the future, it’s evident that Chicago has much to gain by following Michigan’s successful model for online gambling. The potential for economic growth, job creation, and increased tax revenue cannot be ignored, especially as the city faces the challenges of a potential recession. By embracing this thriving industry, Chicago can stimulate innovation, support local businesses, and improve the overall quality of life for its residents.

The lessons learned from Michigan’s iGaming market can serve as a guiding light for Chicago as it considers the legalization of online gambling. A carefully crafted and regulated approach, combined with public and private sector support, can transform Chicago’s economy and secure its place as a leader in the world of online gambling.

The Many Hats of George Salinas: How He Became One of Texas’s Top Trial Lawyers

The Chicago Journal Staff on April 26, 2023

George Salinas’s name has become synonymous with success in the legal profession. As one of Texas’s top trial lawyers, he has made a name for himself by representing clients in high-profile cases and achieving favorable outcomes.

Following his own experience of being involved in an accident, George Salinas became acutely aware of the lack of accessible information available to the general public. Driven by his frustration and a genuine desire to assist others, Salinas founded George Salinas Injury Lawyers to provide a voice to those in need, offer valuable knowledge, and empower individuals to reclaim their lives after an accident.

Through his work at the firm, Salinas has made it his mission to help people navigate the often-complicated legal process, ensuring they receive the support and guidance necessary to move forward with confidence. But Salinas’s journey to the top was not an easy one — it was marked by hard work, dedication, and a willingness to wear many hats.

The beginning of it all

Growing up, Salinas learned the value of hard work and determination from his parents. He also developed a strong sense of compassion and a desire to help others, which would later serve him well in his legal career.

During his time at the University of Texas School of Law, George Salinas completed several legal internships, including positions with Judge Fred Biery at the Federal District Court of the Western District of Texas and with Chief Justice Alma Lopez at the 4th Court of Appeals of Texas. Additionally, he gained valuable experience through two clerkships with private law firms before later serving as a clerk for the Texas Attorney General’s Office as well as a Policy Analyst during the 79th Legislature for the Texas Senate.

As Salinas gained more experience, he began to specialize in personal injury law. He saw firsthand the devastating impact that accidents and injuries could have on people’s lives, and he was determined to help those who had been injured through no fault of their own.

Salinas’s hard work and dedication paid off, and he quickly became one of the top personal injury attorneys in Texas with a reputation for achieving favorable outcomes for his clients. His success was due in large part to his willingness to wear many hats.

Wearing many hats as a lawyer

One of the hats Salinas wears is that of an investigator. When he takes on a case, he doesn’t just rely on the information that his clients provide. He conducts his own investigation — gathering evidence, interviewing witnesses, and reviewing medical records — allowing him to build a strong case and present a compelling argument in court.

Salinas is also a negotiator. He knows that not every case needs to go to trial, and he is skilled at negotiating with insurance companies and other parties to reach a settlement that is fair and just for his clients. Salinas understands the value of compromise, but he never compromises on his clients’ best interests.

However, if it comes to it, Salinas is a highly-experienced litigator who possesses a deep understanding of the law and is well-versed in the nuances of personal injury cases. He is a fierce advocate for his clients in the courtroom, using his knowledge and expertise to present a compelling case to the judge and jury.

Perhaps most importantly, Salinas wears the hat of a counselor. He understands that his clients are going through a difficult time, and takes the time to listen to their concerns and provide guidance and support. Salinas believes the attorney-client relationship is based on trust, and he works hard to earn his clients’ trust by being honest, transparent, and compassionate.

Achieving success

Salinas’s success as a trial lawyer has not gone unnoticed. Throughout his career, he has been recognized by his peers for his excellence in the field of personal injury law, receiving numerous awards and accolades. He has also been invited to speak at legal conferences and seminars, sharing his knowledge and expertise with other attorneys.

But despite his many accomplishments, Salinas remains humble and grounded. He is grateful for the opportunities he has had, as well as for the support of his family and friends, and continues to work tirelessly on behalf of his clients, always striving to achieve the best possible outcome.

The most important hat: A philanthropist

In addition to his legal work, Salinas is also involved in his community. He has served on the board of several non-profit organizations, including the San Antonio Bar Foundation and the San Antonio Trial Lawyers Association. He is also a member of the Texas Bar College, an honorary society of lawyers committed to professional development and improving the legal profession.

Additionally, since 2007, Salinas has served as a mentor for Big Brothers Big Sisters, and generously volunteers his time with organizations such as Wounded Warriors and H-E-B Feast of Sharing. Salinas firmly believes that a fulfilling life must include altruism, recognizing that by helping others, one can also maintain their own happiness. As such, he always seeks opportunities to give back to his community whenever possible.

George Salinas’s journey to becoming one of Texas’s top trial lawyers is a testament to his dedication to his clients, his passion for trial advocacy and litigation, and his willingness to wear many hats. His success is not only thanks to his hard work, but also his commitment to improving the legal profession and serving his community.

Salinas’s story serves as an inspiration to anyone pursuing a career in law, reminding us that with determination and a genuine desire to help others, great success can be achieved.