As inflation rises, Indiana casino revenue shrinks again
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Revenue from Indiana’s casinos fell for a second consecutive month in May as inflation reached a four-decade high and Hoosiers faced ever-higher prices for gas, food and most other goods.
Data released Friday by the Indiana Gaming Commission shows that statewide casino revenue after successful bettors were paid totaled $211.9 million for May, an 8% decrease compared with April’s $229.1 million figure.
That was the second straight month that revenue declined, coming after April’s “win” revenue fell 11% from March’s $235.2 million statewide casino revenue after bettors were paid, The Times of Northwest Indiana reported.
In comparison, Indiana’s casino win grew from $209 million in March 2021 to $211.7 million in April 2021, and grew again to $220.8 million in May 2021, gaming commission records show.
This spring’s decline in casino earnings largely tracks with the nation’s soaring inflation rate and the end of various federal COVID-19 relief and economic stimulus programs aimed at shoring up the post-pandemic economy.
Gaming commission records show that the Hard Rock Casino Northern Indiana in Gary remained Indiana’s top-earning casino in May with $36.3 million in win after bettors were paid. Its nearest rival, the Horseshoe Casino in Hammond, racked up $28.9 million in win.
The May win at both casinos was down compared to previous months. Hard Rock’s May win slid 5% from April and 6% from March. Horseshoe’s win last month declined 9% from April and 16% relative to March, data shows.