Sports betting rises, but overall casino revenue drops in July
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Indiana casinos broke a two-month streak of gains in July with adjusted gross revenue of $192.1 million, down 3.2% from the same month last year. However, the state’s sportsbooks saw a major year-over-year jump with $261.1 million in wagers placed last month, a 28.1% increase over July 2023.
The overall revenue total for the state’s 13 casinos marked a five-month low, according to analysts at PlayIndiana.com. Indiana has seen revenue declines in five of the seven months to date.
Hard Rock Casino Northern Indiana in Gary continues to lead the state in revenue totals with $36.1 million in July. It was the only casino in the state to post a year-over-year gain of 6.2%.
Meanwhile, Horseshoe Hammond Casino saw the worst decline of all Indiana venues with $18.2 million in revenue, down 27.2% from the same month last year.
PlayIndiana said the state collected $23.4 million in wagering taxes last month, down 7.1% from July 2023 and down 60% from June.
Nearly all of Indiana’s sportsbooks saw year-over-year gains in July, with the majority of bets coming from mobile wagers. Online sportsbooks handled nearly $255 million and reported $28.4 million in revenue.
The majority of wagers were placed on baseball ($73.8 million) and parlays ($76.7 million), with just under $80 million being wagered on all other sports, except for football and basketball.