Indiana casino revenue down, continuing 3-month skid
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Indiana’s 12 casinos saw a 7.6% decrease in revenue, amounting to $15.7 million, in May, marking the third month to rake in less than the year prior, according to the Indiana Gaming Commission and PlayIndiana.com.
While the state’s casinos had over $200 million in revenue in April, which also was short of the prior year’s earnings, May saw $191.8 million in adjusted gross revenue.
The report warns Indiana won’t meet last year’s benchmark of $2.4 billion at this pace and could signal a casino slowdown in the state and burgeoning competition elsewhere. Online sportsbooks, specifically, recently became legal in Ohio and Kentucky, drawing betters back to their home states.
For context, Indiana placed $283.5 million in bets in May, a 8.1% decrease than last year.
The highest earning casino is Hard Rock Casino Northern Indiana in Gary with $32.2 million. Horseshoe Indianapolis and Horseshoe Hammond trailed with $27.9 million and $23.2 million, respectively.