Indiana casinos rake in $217.9m in revenue during March
However, the state posted year-over-year declines in both casino and sportsbook activity.
The Indiana Gaming Commission has published its casino revenue report for the month of March. The Hoosier State raked in a combined adjusted revenue total of $217.9m from its 12 casinos.
Last month’s revenue fell by 3.4% year-over-year. According to the report, deductions in March reduced the state’s taxable revenue to $211.4m.
Also during March, Indiana generated $69m in tax revenue from its casinos. With regard to wagering taxes, Indiana collected another $65.4m.
The state received $4.6 million from the supplemental tax, which is based on admissions and contributed by nine of its 12 casinos.
For its first nine months of the fiscal year, Indiana received a total of $484.4m in taxes, according to the report.
Three of Indiana’s four heavy hitters posted year-over-year increases in casino revenue, with Hard Rock North Indiana in Gary grabbing the top spot. The casino brought in $38.2m in revenue.
Shelbyville’s Horseshow Indianapolis and Caesars Southern Indiana in Elizabeth raked in $29.2m and $23m respectively.
However, these surges were not enough to keep the state’s total from dropping when compared to figures from last year.
Indiana’s sportsbooks took a hit as well. March numbers reflected another decrease in year-over-year handles, continuing a downward trend for a fifth consecutive month. However, taxable revenue grew during March with regard to its sportsbooks.
March madness proved to be beneficial for Indiana sports bettors and operators. Hoosiers wagered $433m during March, and Indiana sports betting operators brought in $42.8m in revenue. Currently, the Hoosier state is home to 13 online operators and 14 retail locations.
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