Indiana Experiences a Small Drop in September Casino Revenue

As the Indiana Gaming Commission reports, the total casino revenue of the state for the month of September was slightly above $194.7 million, which is a month-to-month decline, compared to August.

The cumulative win of the two racinos and 10 casinos in Indiana was $206.6 million. Compared to August’s $209.3 million, that is a 1.3% decline. The drop is even higher when compared to June, which had $235.7 million – the best month so far in 2021 for Indiana. July was a very decent month for the industry, especially sports betting, as it managed to double its betting handle from June.

Casinos also reported less revenue on free-play. In September, the free-play revenue was $12.1 million, while the free-play revenue for August was $12.6 million. Hence, the adjusted revenue gap was shrunk to $1.3 million month-over-month and that resulted in a 0.6% decline.

Indiana Collects Millions in Taxes

Even though the AGR experienced a small decline, Indiana reported a total of $39.6 million in taxes, which is an increase of 24.3% compared to August’s $31.8 million. By adding sports betting and supplemental taxes, the total amount went to around $47 million in September, which is almost 25% higher than August’s $37.6 million. Additionally, the total taxes on sports betting in September reached $3.2 million, while August resulted in $1.5 million in sports betting taxes.

When it comes to casino gaming, Chicago is considered an “underserved market,” and it is one of the six places that JB Pritzker, the state’s governor, approved a license for in June 2019. People are starting to head over across the state in order to play at any of the three casinos in Indiana, as it is located one hour from the Loop.

In terms of AGR for the month of September, Horseshoe Hammond ranked first and Hard Rock Northern Indiana ranked second. Their combined AGR for September was slightly more than $59 million. They were also the only two venues to generate less than $100,000 per table.

In East Chicago, Ameristar edged out Hard Rock in Gary by around $1,000 per table. However, Hard Rock was praised for its revenue derived from table games. The casino’s 80 tables produced $8.2 million, while Horseshoe was second with $7.8 million from 116 tables.

The three casinos had a combined slot revenue of $62.3 million. Compared to August, that is a 0.8% decline. Ameristar can solely claim the $503,964 decline as its slot revenue dipped from $17.1 million in August to $16.1 million in September, which equals a decline of 5.5%. Horseshoe Hammond was the leader in slot profits as its 1,996 machines generated $24.9 million.

The Profit from Table Games Climbed, But Profit from Slots Declined

Harrah’s Hoosier Park and Indiana Grand, the two racinos in Indiana, were ranked first and second for average revenue per slot among all venues. Indiana Grand’s average was $14,604 from a total of 1,541 slots, which resulted in a $22.5 million profit. On the other hand, Harrah’s Hoosier Park’s average per slot was $15,651. Its total number of slots were 1,181, a decline of 56 from August.

In slot revenues, nine out of 12 gaming facilities in Indiana had eight-figure numbers. Six of them even exceeded $15 million. Seven venues had more than $100,000 average per unit. The average revenue per slot statewide was $11,306. Compared to August’s $11,426, that is a 1.1% dip. The total amount that the 14,837 slots generated in September was $167.8 million, 1.8% lower than August, which recorded $170.8 million.

Table games, however, recorded higher profits. The revenue from a total of 628 tables was just under $38.9 million and that resulted in an average of $61,887. Compared to August, which recorded $38.4 million and a $61,183  average, that is a 1.2% increase.