Indiana Casino Win Tails Off To $205.8 Million For August

Indiana casino August 2022 revenue

The Indiana Gaming Commission reported statewide casino win totaling $205.8 million for August, as both table and slot revenue lagged compared to July.

The overall figure represented a 6.9% decline from the previous month’s $221.1 million claimed by the state’s 10 casinos and two racinos. It was also a 1.6% year-over-year drop from the $209.3 million in win for August 2021. The venues combined to award $12.8 million in free play for August, and other deductions resulted in the adjustable revenue for the month eligible for taxation being $187.5 million.

The casinos paid the state $35.3 million in taxes when combining the $31.2 million in wagering taxes and $4.1 million in supplemental taxes. That total does not include the $2.4 million in taxes levied on the $25.4 million in operator revenue collected from sports wagering.

Bettors finally get better of Hard Rock in baccarat

Hard Rock Northern Indiana, which has made itself the premier venue in the state at which to play baccarat, saw its luck run cold in August. After five straight months of claiming at least $6 million in revenue from the card game, the Northwest Indiana location won a year-low $3.8 million from bettors who generated a table drop of $25.7 million.

That 14.7% hold was its lowest since February and lagged behind Northwest Indiana competitors Horseshoe Hammond and Ameristar in East Chicago. Those two venues combined for $4.1 million in baccarat revenue from $22.1 million in drop.

Hard Rock’s down note was one factor in statewide table games revenue dropping 5.6% from July to $37.4 million. The Gary location still led the state in table games revenue at $8.5 million, but it was 29.1% less than July’s $11.9 million.

Half of the venues posted month-over-month gains in table revenue, with fellow northwest Indiana property Horseshoe Hammond surging 25.7% to just shy of $7.5 million. Caesars Southern Indiana also had a notable jump, improving 27% to $5.2 million.

The sharpest decline came at Belterra, where the $675,000 in table win was barely half July’s $1.1 million. Table win at Horseshoe Indianapolis plunged 21.7% to $3.7 million, but it was still enough to see off Ameristar Casino in East Chicago to finish fourth. The average win per table was $58,831, down 2.7% from July.

Horseshoe Indy edges Hard Rock for slots revenue

Though the $24.6 million in electronic gaming device (EGD) and slot revenue amassed by Horseshoe Indianapolis was a 5.2% decline compared to July, it was still enough to edge Hard Rock by $300,000 to finish atop the leaderboard. Horseshoe Indianapolis also paced all locations in per-unit revenue at $15,807, with Caesars Southern Indiana runner-up at $15,236.

While seven venues surpassed $10 million in slots revenue, the $168.4 million combined was 7.2% less than July’s $181.4 million. The state average per unit was $11,636, 6.6% lower than the $12,459 from each machine the previous month.

Slot revenue accounted for 81.8% of all casino revenue in August, one-quarter of a percentage point lower than July. Three locations — Belterra, Blue Chip, and Rising Sun — generated more than 90% of their August revenue via slots and EGD play. Conversely, Hard Rock, Horseshoe Hammond, Caesars Southern Indiana, and Ameristar all had at least 20% of their revenue originate from table games.

Photo: Shutterstock

Author: Ryan Gonzales