Football boosts sports betting, but overall casino revenues continue decline
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Indiana’s casinos reported a seventh-consecutive month of year-over-year revenue declines in September, according to analysts at PlayIndiana.com. However, the return of the National Football League marked a sharp increase in the number of sports wagers placed throughout the state.
The state’s overall casino revenue totaled just under $182 million last month, marking another low point for 2023 and 5.4% lower from the same month last year.
The top three casinos saw increases over August but also were down year-over-year. Hard Rock Casino Northern Indiana in Gary continues to be the highest-performing casino with $32.6 million in September.
Horseshoe Indianapolis in Shelbyville recorded $26.4 million in revenue, while Horseshoe Hammond had $23.6 million. Those numbers are down 0.5% and 10.2% year-over-year, respectively.
Only three of Indiana’s casinos were up both month-over-month and year-over-year with their revenue totals. Those were Blue Chip Casino in Michigan City ($10.1 million), Belterra Casino in Florence ($7.3 million), and French Lick Resort ($6.9 million).
PlayIndiana says the state’s casinos have totaled $1.76 billion through the first three quarters of the year and are on pace to have a lower total than last year’s $2.39 billion handle.
Meanwhile, Indiana’s sportsbooks saw $404 million in wagers last month, a 70% jump over the previous month. Ameristar Casino in East Chicago remains the most popular spot for sports betting in Indiana with $171 million in wagers.
The revenue created through those wagers generated nearly $4 million in taxes for the state. While that number is 90% more than the two previous months combined, it remains $900,000 lower than September 2022, according to PlayIndiana.