Indiana Casino Revenue Drops Below $200 Million For June
Indiana casinos are still raking in the bucks, but summer is seeing the state experience a slight swoon.
The Hoosier State’s 12 commercial casinos combined for $197,197,354 in total gaming win (i.e. revenue) last month. That was a 6.9% decline from May’s $211.9 million and also a 3.8% fall in a year-over-year comparison to June 2021 ($204.95 million). That ended a four-month streak when the state exceeded $200 million in gaming win each month.
The sports betting numbers were also down in June, which is to be expected in a month with no football and a dwindling number of basketball and hockey games as the playoffs progressed.
There are no real money online casinos in Indiana; legislative efforts to make them legal gained little traction in 2022.
Here are three takeaways for Indiana gaming from June.
Breakdown of Indiana Casinos in June
Of the $197.2 million in gaming win for June, about $158.6 million came from slots (also known as Electronic Gaming Devices, or EGDs) and about $38.57 million derived from table games. According to the monthly report from the Indiana Gaming Commission, there were 658 table games and 14,661 EGDs functioning in the state in June.
Hard Rock Casino Northern Indiana in Gary led the state with $33.1 million in gaming win, or Adjusted Gross Revenue (AGR). Horseshoe Hammond was second at $28.3 million, followed by Horseshoe Indianapolis ($26.1 million), Caesars Southern Indiana in Elizabeth ($19.57 million) and Harrah's Hoosier Park in Anderson ($18.7 million).
The statewide taxable AGR for gaming in June was $188.66 million, down 6.4% from May ($201.6 million) and down 5.1% from June 2021 ($198.74 million).
Indiana Sports Betting, June vs. May
Indiana Sports Betting Drops, Too
The sports betting handle for Indiana during June was $256,307,260. That was a 16.9% decline in a month-over-month comparison with May ($308,385,687). But last month’s number was a 4.1% improvement compared to 12 months earlier, when it was $246,321,671.
The mobile sports betting market represents the vast majority of action in the state, as is the case in every jurisdiction that has a robust, competitive online market such as the one in Indiana. The Hoosier State had 94.7% of its sports wagers placed online in June. So it’s no surprise that the percentage changes were very similar – the mobile handle ($242.7 million in June) was down 16.4% from May ($290.4 million) and up 8.3% from June 2021 ($224 million).
The sports betting revenue (taxable AGR) in June was $15,765,954, a 48.6% decline from the $30.66 million in May and a 38.1% drop from the nearly $25.5 million from June 2021. The sports wagering tax of nearly $1.5 million in June was down by the same percentages compared to one month and one year earlier.
Latest Indiana Casino Developments
June was an eventful month in the Indiana casino industry beyond the revenue numbers.
Groundbreaking took place on June 21 on the Queen of Terre Haute Casino Resort project. The development is scheduled to be 400,000 square feet and is expected to create at least 500 permanent and 1,000 temporary jobs.
When it is completed, the Queen of Terre Haute Casino Resort will offer 50 table games, 1,000 slot machines and a 10-story hotel.
Also in the past few weeks, BlueBet Holdings announced a deal for sports betting market access in Indiana via the Caesars Horseshoe Casino in Hammond. The Australian sportsbook operator will operate in Indiana as ClutchBet.