Casino revenue drops, sports wagers rise in October
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Indiana’s 12 casinos saw an overall year-over-year revenue drop for the eighth consecutive month in October. However, analysts at PlayIndiana.com report the state’s sports betting handle increased 6.3% to nearly $430 million.
According to figures from the Indiana Gaming Commission, Indiana casinos raked in $169.5 million in adjusted gross revenue last month, down 10.3% from October 2022 and $7.3 million lower than September.
The revenue decrease is being attributed largely to a 5.4% month-over-month drop in slot winnings, which totaled $153.3 million in October.
All 12 of Indiana’s casinos saw year-over-year declines in revenue. Hard Rock Casino Northern Indiana in Gary remains the highest earning casino with $31.3 million last month. Horseshoe Hammond saw the biggest revenue drop off, falling 21.3% compared to October 2022.
Only two casinos saw revenue increases compared to September of this year. Caesars Southern Indiana saw a 6.8% increase, while Ameristar Casino in East Chicago was up 6.3% over the previous month.
PlayIndiana reports the state’s casinos are on pace to end the year with $2.25 billion in total revenue, which is down slightly from $2.39 billion last year.