Commissioned by the Steuben County Economic Development Corp. and conducted by AM Steinberg Advisors, the report evaluates the commercial potential of a casino near the junction of Interstate 69 and the Indiana Toll Road. The findings indicate that such a venue would operate as a tri-state draw, with 62% of projected gaming revenue originating from outside Indiana—primarily from neighboring Michigan and Ohio.

According to the study, Michigan players would account for 48% of total gaming spend, followed by Indiana residents at 38% and Ohio patrons contributing the remaining 14%. This cross-border dynamic reflects both the geographic positioning of the proposed site and the limited availability of comparable gaming options in northeast Indiana, which has historically led to player outflow to other jurisdictions.

From a market perspective, the report highlights the potential for “repatriation” of gaming expenditure currently lost to out-of-state casinos, alongside incremental gains from new visitation. This dual effect could strengthen Indiana’s overall channelisation strategy, particularly in a region underserved by existing land-based gaming infrastructure.

The study’s release comes amid a broader competitive process involving three counties in the Fort Wayne area—Allen, DeKalb and Steuben—where voters are set to decide in November referendums whether to authorize a new casino development. The referendums stem from House Bill 1038, approved earlier this year, which outlines strict investment and licensing conditions for the eventual operator.

Under the legislation, the selected licensee must commit at least $500m in capital expenditure within five years, in addition to paying a $150m licensing fee to the state. These requirements are designed to ensure large-scale, integrated developments capable of delivering sustained economic impact.

While Allen County is widely viewed as the frontrunner due to its larger population base and proximity to Fort Wayne, Steuben County officials are positioning their proposal as a differentiated offering focused on regional reach rather than local density. The study supports this approach, emphasizing accessibility to multiple state markets as a key competitive advantage.

Beyond gaming revenue, the report also points to diversification benefits for Steuben County’s tourism economy, which currently relies heavily on seasonal lake visitors and second-home owners. A casino development could provide year-round visitation and broader economic stability.

Local stakeholders have framed the study as a neutral, data-driven contribution to the public debate. Isaac Lee, CEO of the Steuben County Economic Development Corp., stated that the objective is to equip voters and policymakers with a clearer understanding of market dynamics rather than advocate for a specific outcome.

As the referendum process advances, the findings add a quantitative dimension to the siting debate, with implications not only for regional competition but also for how Indiana positions itself within the broader Midwestern gaming landscape.