The Grand Victoria Casino, located in Elgin, Illinois, is one of the state’s most prominent riverboat casinos. Situated along the scenic Fox River, it has become a mainstay in Illinois’ gaming landscape since its opening in 1994. Beyond the bright lights and bustling slot machines lies a deeper question: who owns Grand Victoria Casino, and how has its ownership evolved over the years? Let’s take a closer look.
Table of Contents
History and Background
The Grand Victoria Casino was originally launched as part of a wave of legalized riverboat gambling in Illinois during the early 1990s. It quickly became a regional destination for entertainment and economic development.
Initially, the casino was a joint venture between Hyatt Hotels and Gold Strike Resorts. However, over the years, ownership and operational control changed hands several times.
Current Ownership: Caesars Entertainment Inc.
As of now, the Grand Victoria Casino is owned and operated by Caesars Entertainment Inc., one of the largest casino and hospitality companies in the world. Caesars acquired the property through its $17.3 billion merger with Eldorado Resorts in 2020. Before that, Eldorado Resorts had acquired the casino in 2018.
Key Ownership Timeline
| Year | Owner | Notes |
|---|---|---|
| 1994 | Gold Strike Resorts & Hyatt | Original joint venture for the casino’s opening |
| 1995 | Hilton Hotels Corporation | Acquired Gold Strike Resorts |
| 1998 | Park Place Entertainment (later Caesars) | Spin-off of Hilton’s gaming division |
| 2007 | MGM Mirage | Rebranded but later divested as part of restructuring |
| 2018 | Eldorado Resorts | Purchased from MGM for $327.5 million |
| 2020 | Caesars Entertainment Inc. | Eldorado merged with Caesars and took the name |
The Caesars Connection
Caesars Entertainment now controls more than 50 casinos and hotels across the United States. Grand Victoria is part of this vast portfolio, benefiting from the company’s nationwide loyalty program, Caesars Rewards, and cross-property promotions.
This gives Grand Victoria guests access to a broader gaming and hospitality experience. The affiliation with Caesars also strengthens the casino’s ability to offer high-profile events, concerts, and dining experiences.
Financial Aspects of the Ownership
The sale of the Grand Victoria Casino to Eldorado Resorts in 2018 for $327.5 million was part of MGM’s strategy to refocus on core markets. Eldorado saw the property as an opportunity to expand its footprint in the Midwest.
When Eldorado acquired Caesars Entertainment in 2020, it became the largest casino and entertainment company in the U.S. under the Caesars name, combining both companies’ assets, including Grand Victoria.
Financial Overview
| Aspect | Value |
|---|---|
| 2018 Sale Price | $327.5 million |
| Revenue (Pre-COVID) | Approx. $160 million/year |
| Estimated Employee Count | 800+ |
| Gaming Positions | 1,100+ slot machines, 30+ table games |
Facilities and Offerings
Under Caesars’ ownership, Grand Victoria has continued to offer a wide array of gaming and hospitality services:
- Gaming Floor: Over 1,100 slot machines and 30+ table games including blackjack, craps, and roulette.
- Dining: Multiple restaurants including award-winning eateries like Buckingham’s.
- Entertainment: Live performances, outdoor concerts, and seasonal events.
- Rewards: Integration with the Caesars Rewards program offering perks across the Caesars portfolio.
Community Involvement
One of the most important contributions Grand Victoria makes is to the local community. The casino shares a portion of its revenues with the city of Elgin and Kane County, which supports education, infrastructure, and community services.
Community Contributions
| Year | Amount Contributed | Recipient | Use of Funds |
|---|---|---|---|
| 2021 | $5.4 million | City of Elgin | Public services and capital improvements |
| 2022 | $5.8 million | Kane County | Education and healthcare |
| 2023 | $6.2 million | Various grants | Non-profits and cultural initiatives |
Future Outlook
Grand Victoria Casino is currently undergoing modernization efforts, with Caesars investing in updated technology and amenities. While it remains a riverboat casino by legal definition, much of its operations now feel like a land-based resort due to legislative changes.
There has been speculation about further expansion or relocation to a full land-based casino facility if laws continue to evolve in Illinois. Regardless, Caesars is committed to investing in the property and keeping it competitive in an increasingly digital and diversified gaming market.
The Grand Victoria Casino has come a long way since its inception. From a locally operated riverboat casino to a premier gaming destination under Caesars Entertainment, it has become a significant player in Illinois’ casino landscape.
Ownership changes have not only reshaped its operational style but also improved its integration into a global gaming brand. Through strategic acquisitions, robust community involvement, and a commitment to guest satisfaction, Grand Victoria continues to thrive in a competitive market.
Whether you’re a gaming enthusiast, an investor, or a local resident curious about who owns the Grand Victoria Casino, one thing is clear: it’s in the hands of a casino giant that shows no signs of slowing down.
