Indiana Casino Revenue Ticks Down To $204 Million In September

casino table games

The Indiana Gaming Commission reported $204 million in casino gaming win for September, a slight decline from the previous month.

It was, however, the third consecutive month in which overall win topped $200 million. September’s figure was 0.9% lower compared to August’s $205.8 million collected by the state’s 10 casinos and two racinos. The taxable adjusted revenue after free play and other deductions for September totaled $186.9 million, which was 0.3% lower versus the $187.5 million claimed in August.

Year-over-year figures also showed a slight downturn in both total win and adjusted revenue. Both figures declined 1.2% from September 2021, when Indiana casino operators claimed $206.6 million in total win and $189.3 million in adjusted revenue.

The state collected $43.4 million in wagering and supplemental taxes from the venues, a figure that does not include the record $4.8 million in sports wagering taxes for the month. Despite the slight decline in revenue figures, progressive tax rates on casino revenues led to an increase of 22.8% in receipts. Casino wagering taxes increased 24.4% month-over-month to $38.9 million.

Baccarat bounce back fuels Hard Rock

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Hard Rock Northern Indiana again did the double for revenue, leading in both table games and slots with a combined total of $36.6 million in win. That was an 11.7% increase compared to the $32.7 million from August, with almost all of it traceable to a return to normalcy in baccarat.

The Gary location claimed $7.9 million in revenue from $26.8 million in drop from the popular table game, more than doubling the previous month’s total of $3.8 million, as the hold surged from 14.7% in August to $29.3% in September. Hard Rock’s baccarat revenue alone would have been enough to lead the state in table games revenue for September, and its $12.7 million overall claimed on the felt was more than double the closest competitor — Horseshoe Hammond at $5.8 million.

Those two Northwest Indiana venues were the only ones to clear $5 million in table games revenue. Horseshoe Hammond, however, had its overall table games revenue plunge 21.8% compared to August as its baccarat winnings shrank to $1.6 million, 41.8% lower than its August haul of $2.7 million.

Only four of the 12 venues reported month-over-month increases in table games revenue, and the combined increase in revenue from Blue Chip, Belterra, and Horseshoe Indianapolis was less than $212,000. The $37.3 million in statewide table games revenue was 0.3% lower compared to August but 4% lower compared to the $38.9 million from September 2021.

Horseshoe Indianapolis nearly claims a slots revenue win

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Horseshoe Indianapolis was one of three venues to surpass $20 million in slots and EGD revenue, along with Hard Rock and Horseshoe Hammond. Its $23.6 million was less than $200,000 short of Hard Rock’s total, and the racino did grab the consolation prize of having the highest revenue per unit at $15,343 from its 1,541 gaming positions.

Horseshoe Hammond had the most EGD/slots in operation in Indiana with 1,704, accounting for nearly 12% of the 14,505 played in September. It totaled $21.4 million in revenue for an average of $12,584 per position. Hard Rock ranked fourth in per-position revenue at $14,396, with Caesars Southern Indiana ($14,956) and Harrah’s Hoosier Park ($14,422) squeezing ahead of it.

The state’s two racinos combined to generate $46.9 million in revenue for September, with Horseshoe Indianapolis’ total of $27.4 million edging out Horseshoe Hammond by less than $100,000 for second overall.

Northwest Indiana still a vital gaming hub

While Illinois continues to move forward with plans for casinos in downtown Chicago and suburban Cook County to challenge the might of Indiana’s trio in the northwest part of the state, Hard Rock, Horseshoe Hammond, and Ameristar Casino remain a major source of Hoosier State casino revenue.

The three locations combined for slightly more than $80 million in win, accounting for 39.2% of the statewide overall win. Hard Rock’s dominance in table games revenue skews that gaming discipline percentage to a greater degree, as the threesome’s $21.2 million from the felt represents 56.9% of the state’s total.

Photo: Shutterstock

Author: Ryan Gonzales