Sportsbook revenue gears up while casinos stall
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While casino revenue remains sluggish, sportsbooks are gearing up for a banner year. Analysts from PlayIndiana.com report the state saw a slight decrease in sports wagers in January following a near-record December, but Indiana’s casinos saw a 17% dip in revenue compared to the same month last year.
Sportsbooks
Over $480.5 million was wagered through sportsbooks in the state in January. Adjusted gross revenue was $53.5 million with $5.1 million paid to the state.
DraftKings and FanDuel contributed to over 70% of the total sportsbooks handle. Newly-launched ESPN BET had a total of $30.8 million landing as 4th largest platform in January, its second full month on the market.
Basketball was the most popular sport to place wagers on with $113.1 million last month. Parlays made up $269 million of all bets.
While down from $503 million total wagers in December, PlayIndiana said January sets 2024 up to beat last year’s sports betting revenue total.
Casino revenue
Casinos have brought in less money year-over-year for 11 of the past 12 months with January seeing $161.8 million in adjusted gross revenue. That marks a decline of almost $30 million from last year.
Gary’s Hard Rock Casino Northern Indiana was once again the top-earning casino in January with $29.1 million. Horseshoe Indianapolis and Horseshoe Hammond followed with $23.8 million and $17.8 million, respectively.
Slot machines accounted for $140.4 million and table games brought in $30.7 million in January. Casinos paid $53 million in total tax last month.
PlayIndiana said the lower numbers could have been attributed to colder temperatures.