Casino revenue down, sports betting rises in August
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Indiana casinos saw a year-over-year drop in revenue for the sixth-consecutive month in August. However, analysts from PlayIndiana.com say sports betting in the state saw a rebound over the previous month.
The Indiana Gaming Commission last week reported adjusted gross revenues of $182.1 million in August, marking the lowest monthly total for 2023. The revenues were 9.2% lower than July and 5.7% lower than the same month last year.
Only January and February have seen higher year-over-year revenue totals thus far.
All of Indiana’s 12 casinos saw declines in revenue from July, but Hard Rock Casino Northern Indiana in Gary continued to have the highest total with nearly $30.5 million, followed by Horseshoe Indianapolis with $23.7 million and Horseshoe Hammond at $23.1 million.
Only three casinos saw year-over-year revenue increases: Bally’s Evansville at $13.3 million, French Lick Resort at $6.6 million, and Hollywood Lawrenceburg at $12 million.
PlayIndiana reports Indiana’s casinos are on pace to pass $2.3 billion in total revenue for the year, which is in line with the last two years at $2.39 billion and $2.35 billion, respectively.
While overall casino revenue dropped, sports betting in Indiana picked back up in August. Indiana’s sportsbooks saw $238 million in wagers last month, up 17% over July.
Ameristar East Chicago Casino Hotel took in more than 40% of the month’s wagers to the tune of nearly $96 million. Sports betting also generated $2.23 million in taxes for the state last month.
PlayIndiana analysts believe the spring opening of Terre Haute Casino Resort and a soon-to-be-completed $40 million expansion of Harrah’s Hoosier Park will add to Indiana’s competitiveness in the gaming sector.