Indiana Casinos Surge Past $200 M In August Revenue, Up 7.2% From July
Tuesday 17 de September 2024 / 12:00
2 minutos de lectura
(Indiana).- According to data from the Indiana Gaming Commission (IGC), land-based casinos in the Hoosier State generated $200.2 million in August. This past month marks the first time monthly revenue rose since May and the third time this year that casino win surpassed $200 million.
Indiana casinos are glad the summer is over. Land-based casinos in the Hoosier State generated $200.2 million in August. This past month marks the first time monthly revenue rose since May and the third time this year that casino win surpassed $200 million.
Online casino revenue is not part of Indiana’s revenue report, as iGaming is not legal.
Key takeaways
- Land-based casino revenue hit $200.2M in August, up 7.2% compared to Indiana casino revenue in July 2024.
- Casino win surpassed $200 million for the third time this year.
- iGaming could’ve brought Indiana casino operators more than $116 million in Juy.
Online casino revenue would pass $100M a month in Indiana
While Indiana enjoyed a solid boost in revenue in August, that boost could’ve been considerably bigger if the state had legal online casinos.
However, an attempt by lawmakers to pass an IN iGaming bill failed in 2023 after an analysis came out saying that iGaming would be a disaster for the state’s land-based casinos.
Though follow-up studies on Indiana online casinos showed the initial analysis was incorrect, the damage had been done. Lawmakers have yet to make a concerted effort to return to an iGaming bill.
In the meantime, casino operators are losing over $100 million in revenue. The state is losing out on tens of millions in tax revenue.
Here’s a snapshot of PlayUSA’s projections for Indiana online casino revenue in July based on revenue and population data for the country’s seven legal online casino markets:
| July online casino revenue | Population (according to 2023 Census Bureau data) | Per-capita revenue | |
|---|---|---|---|
| Pennsylvania | $215.4 million | 13 million | $16.65 |
| New Jersey | $195.4 million | 9.3 million | $20.65 |
| Michigan | $191.4 million | 10 million | $19.86 |
| Connecticut | $41.7 million | 3.6 million | $12.86 |
| West Virginia | $20 million | 1.8 million | $9.94 |
| Delaware | $6 million | 1 million | $3.90 |
| Rhode Island | $2.6 million | 1.1 million | $2.09 |
| Average | $96.1 million | 5.7 million | $16.86 |
| Indiana | $116.3 million | 6.9 million | $16.86 |
Harrah’s Hoosier Park was the state’s top-performing casino in August
Four casinos anchored August’s impressive showing: Harrah’s Hoosier Park, Caesars Southern Indiana, Horseshoe Indianapolis, and Belterra Casino. The four casinos accounted for all $10.1 million of the $13.4 million in growth this past month.
Harrah’s Hoosier Park led the way with a $3.5 million rise, followed by Caesars Southern Indiana and Horseshoe Indianapolis ($2.6 million each), and Belterra ($1.5 million).
Additionally, all 12 of the state’s 13 casinos posted positive revenue numbers in August, as reported on the IGC’s August 2024 revenue report.
| August 2024 adjusted gross revenue | July 2024 adjusted gross revenue | Month-on-month growth (%) | |
|---|---|---|---|
| Hard Rock Casino Northern Indiana | $36,554,819 | $36,063,860 | 1.36% |
| Horseshoe Indianapolis | $25,203,131 | $22,646,660 | 11.29% |
| Caesars Southern Indiana | $21,771,627 | $19,189,655 | 13.46% |
| Horseshoe Hammond | $18,883,771 | $18,218,536 | 3.65% |
| Harrah's Hoosier Park | $19,752,832 | $16,263,481 | 21.46% |
| Ameristar Casino | $13,597,573 | $13,058,434 | 4.13% |
| Bally’s Evansville | $13,080,834 | $13,057,864 | 0.18% |
| Hollywood Lawrenceburg | $11,971,453 | $11,084,847 | 8.00% |
| Terre Haute Casino | $10,797,455 | $10,503,283 | 2.80% |
| Blue Chip Casino | $10,750,506 | $10,389,896 | 3.47% |
| French Lick Resort | $6,351,934 | $6,768,474 | -6.15% |
| Belterra Casino | $7,657,996 | $6,186,336 | 23.79% |
| Rising Star Casino | $3,789,594 | $3,315,074 | 14.31% |
| Total | $200,163,525 | $186,746,400 | 7.18% |
August’s $200.2 million in casino win was the third-highest so far this year and the third time revenue has passed the $200 million mark:
- August: $200.2 million
- July: $186.7 million
- June: $190.4 million
- May 2024 Indiana gaming revenue: $205.2 million
- April: $194.8 million
- March: $207.3 million
- February: $186 million
- January: $157.1 million
Year-on-year, revenue was up 13.3%, or $23.4 million higher than August 2023’s tally of $176.7 million.
Categoría:Gaming
Tags: Sin tags
País: United States
Región: North America
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