Casino revenue rises, sports wagers dip in May
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The month of May brought about an increase in Indiana’s casino revenue, but a dip in its sports betting handle, according to analysts at PlayIndiana.com.
Indiana’s 13 casinos brought in a combined $211 million in adjusted gross revenue (AGR) during the month of May. This is an 8% increase compared to April, and 10% increase from May 2023.
Hard Rock Casino Northern Indiana in Gary continues to reign as the state’s most popular and highest earning casino, taking in $37 million AGR in May. It is followed by Horseshoe Indianapolis in Shelbyville, which earned $27.7 million, and Caesar’s Southern Indiana in Harrison County with $22 million.
The state collected around $60.2 million in tax revenue from casinos in May.
Indiana sports bettors wagered $361.6 million last month, down 9% from April, but a 28% increase year-over-year.
The drop in May is typically due to a drop in the number of sporting events as the NBA and NHL playoffs begin, and college basketball ends. Betting is expected to decrease even more moving into June and July, as most sporting events will be WNBA and NHL games.
During May, Indiana sports betting operators brought in just under $39 million AGR. Most operators collected over $1 million in wagers. Ameristar Casino in East Chicago leads the way with a $133.9 million handle.
Parlays made up for about 28% of bets last month, accounting for $102 million. Basketball followed close behind at $97 million, 27% of all wagers.
The state made $3.7 million in tax revenue from sports betting in May.