Strong December bookends year for sportsbooks, casino revenue
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December was a fruitful month for Indiana’s casinos and sportsbooks. Analysts from PlayIndiana.com report a nine-month decline in casino revenue was snapped, and the state saw a second month of record sports wagers.
Record highs in sports betting
In December, the Indiana Gaming Commission reported $503.1 million stemming from sportsbooks, which is the second-highest monthly handle since sports betting was legalized in 2019. November 2023 had the highest-ever handle at $513.6 million.
It’s just the third time a handle has reached over $500 million. The top online sportsbooks were DraftKings, FanDuel and BetMGM.
The state has tallied $4.3 billion in bets placed—the most ever. Of that, $404 million is taxable revenue, resulting in $38 million in taxes for the state.
December a rebound for casinos
Indiana casinos were not as lucky as sportsbooks. Through most of 2023, monthly revenues were not meeting year-over-year numbers.
However, December’s $192.7 million in adjusted gross revenue meant the state’s casinos ended their nine-month streak of year-over-year declines. Instead, they saw just a $33,195 increase over December 2022.
The had $15.3 million more in wagers than in November, resulting in an 8.6% month-over-month increase. In December, $173.6 million was made from slot machines, while table games made $32.6 million.
The month’s top casinos are Hard Rock Casino Northern Indiana, Horseshoe Indianapolis and Horseshoe Hammond.
A new casino will join the field in April when the Terre Haute Casino Resort opens.