Indiana is blaming inflationary pressures for a drop in overall casino revenues, which dropped to $207.6m this October from $214.5m in the same month last year. The Indiana Gaming Commission (IGC) said the effects of inflation impacted the amount of money wagered by gamblers on electronic gaming machines.
Both Horseshoe Casino Hammond and Ameristar Casino East Chicago saw earnings fall year-on-year. Horseshoe’s earnings dipped about $3.4m annually, with $29.1m reported this year compared to $32.1m in October 2021.
At Ameristar, earnings in October were reported at $15.9m, compared to $20.8m in the same prior-year period. Hard Rock Northern Indiana was one of the few casinos in the Hoosier State to show a revenue increase, with its earnings rising $3.6m year-on-year.
Hard Rock Casino Northern Indiana President Matt Schuffert commented: “From our perspective, it certainly was another strong month for us. It’s good to see that in the 18 months since we opened we are still seeing business grow both in slots and table gaming.”
However, Schuffert acknowledged that Hard Rock was an anomaly when it came to the performance of Indiana casinos in October. He said: “Despite Hard Rock’s strong numbers, most of the rest of the market is in decline. Obviously, it is something we will keep an eye on.”
As the IGC noted, electronic games seemed to be the most impacted by economic hardships. Around $134.6m was wagered on electronic games at Ameristar in October compared to $176.6m wagered the same month last year.
Ameristar fared better in the sports wagering department, posting an increase of almost $20 in earnings compared to September. However, the overall results are still a cause for concern among Indiana gaming operators.
