In April, Indiana’s 12 casinos collectively generated $205.1 million in adjusted gross revenue (casino win minus revenue from promotions). These figures represent a decline of 5.9% compared to the previous month and a decrease of 7.5% compared to the same period last year.
Although there was a decline, April continued the positive trend from March, making it the second consecutive month where Indiana casinos reported adjusted gross revenue above $200 million. Prior to March, they had not reached this milestone since July 2022.
Northern licensees dominate
The Indiana Gaming Commission’s April report breaks down the wagering licensees into three categories: northern licensees, southern licensees, and racinos.
Among the northern licensees, all four properties, including Hard Rock Casino Northern Indiana, Horseshoe Hammond, Ameristar, and Blue Chip, generated over $10 million in adjusted gross revenue (AGR) in April. Collectively, the northern licensees accounted for more than 43% of the state’s AGR.
- Challenging Rock Betting house Northern Indianapolis: $37. six million
- Horseshoe Hammond: $24. 1 thousand
- Ameristar: $17. 1 thousand
- Blue Computer chip: $10. 6th million
Indiana includes six southern areas of licensees, normally much smaller as compared to their upper counterparts. Half of them would not reach $10,50 million inside AGR a month ago.
- Caesars Southern Indianapolis: $21. some million
- Bally’ s Evansville: $14. 6 million
- Artist Lawrenceburg: $13. 3 thousand
- Belterra: $7. 2 thousand
- French Riff Resort: $6 million
- Growing Star: $3. 6 thousand
More two houses fall into typically the racino kind. In other words, these kinds of locations feature horse bike racing tracks as well as a full modern casino offering. Equally properties have been among the top-five revenue generators for the calendar month.
- Horseshoe Indianapolis: $30. 1 thousand
- Harrah’ ings Hoosier Playground: $19. a couple of million
The proximity of casinos to major cities does correlate with their revenue performance. Casinos in the Chicagoland area tend to generate higher revenue due to the large population and proximity to a major metropolitan area.
Horseshoe Indiana, located near Indiana’s most populated city, benefits from its proximity to the city and attracts a significant number of visitors. Similarly, Caesars Southern Indiana benefits from its proximity to Louisville, resulting in higher revenue of over $20 million.
On the other hand, the Cincinnati-area casinos have shown lower profits. Unlike Chicago and Kentucky, Cincinnati has its own legal casino games, which means that Ohio residents do not rely on Indiana’s casinos as much as residents of neighboring states.
Tough Rock approaches $40 thousand win available for second right month
Tough Rock Upper Indiana offers maintained the best spot amongst casinos within the Hoosier Condition for nineteen straight weeks through Apr. The property opened up in May 2021 and rapidly rose in order to prominence, eventually becoming number 1 in Mar 2021 remaining there subsequently.
Hard Rock’ s revenue has exceeded $39 mil in the last 2 months. No modern casino has reached $40 mil since Horseshoe Hammond documented $40. one million within March 2018. More remarkably, it had simply no free performance deductions, adding to $40. one million within AGR. Difficult Rock documented $1. five million within free performance deductions within April.
Furthermore, Hard Rock and roll led almost all casinos within slot and even table games income. It was the only real casino having an eight-figure table games win.
Five slots champions:
- Tough Rock Upper Indiana: $27. 3 thousand
- Horseshoe Indiana: $25. 6 million
- Horseshoe Hammond: 20 dollars. 2 thousand
- Harrah’ ings Hoosier Playground: $17. some million
- Caesars Southern Indianapolis: $16. thirdly million
Top five scratch cards winners:
- Hard Ordinary Northern Indianapolis: $11. 9 million
- Caesars Southern Indianapolis: $5. fifty-five million
- Horseshoe Hammond: $5. 53 thousand
- Horseshoe Indiana: $4. 6 million
- Ameristar: $3. a couple of million
Casinos withstand better than sportsbooks
Indiana sportsbooks experienced significant declines in April, with double-digit month-over-month and year-over-year drops. While the drop was expected due to seasonality, the decrease was more than 10% compared to April 2022.
Unlike sports betting, casino games like slots and table games are not as affected by seasonal fluctuations. However, Indiana’s year-over-year gambling declines can also be attributed to market maturity and the legalization of gambling in neighboring states. The upcoming opening of Bally’s Chicago, a major casino in the northern area, further indicates that future Chicago-area casinos may impact Indiana casinos’ revenue.
Despite these challenges, in-state casinos will likely continue to generate healthy revenue due to sustained demand. While their share of the overall casino market may decrease in the future, it will still remain significant.
Hill Kerby is a advocatte for safe, lawful betting, and it is grateful in order to contribute to developing the industry. They have a history in online poker, sports, plus psychology, all of these he includes into their writing.
