Indiana Gaming Commission reveals FY drop in adjusted casino win to $2.36bn

September 4, 2023
By

Sports wagering taxes saw the biggest increase, rising 27%.

The Indiana Gaming Commission has released its FY2023 report, showing that the Hoosier State’s casino adjusted gross revenue dropped slightly by 2.48% year-on-year. The state generated $2.36bn as of June 30 2023, the end of its full year financial period.

State-wide casino win reached $2.47bn, down by 2.43%. Taxes for FY2023 also dropped slightly from $660m in 2022 to $645.8m this year. The northern Indiana market and the state’s racinos experienced drops in revenue as well, but the southern Indiana properties had a small increase of 0.18% to $806m.

The most significant increase was from sports wagering taxes, which rose 27% and reached $39.6m in FY2023. In the period from sports betting’s launch (September 2019) until June 30 2023, the state handle reached nearly $12.5bn.

Blue Chip Casino and Ameristar Casino brought in the highest sports wagering wins with $165.9m and $120.4m, with Belterra Casino’s third-place sports wagering figures coming in much lower at $46.2m.

The casino with the highest win in FY2023 was Hard Rock Casino Northern Indiana with $428m, followed by Horseshoe Indianapolis with $348.4m. The Indiana casino that generated the least win this year was Rising Star Casino with $44.7m.

Table games made up $460m of the state’s total $2.47bn win. Hard Rock Casino Northern Indiana and Horseshoe Hammond were the two top properties for table game win, bringing in $126.9m and $74.9m, respectively.

Graph provided by the Indiana Gaming Comission. (EGD = Electronic Gaming Device)

Terre Haute Casino Resort, by Churchill Downs, is hoping for an early 2024 opening date, after development costs of $290m. The venue will include a 125-room hotel, a pool and 56,000 square feet of gaming space with 1,000 slot machines.

Harrah’s Hoosier Park Racing & Casino will open next month with a new high-limit area and 30,000 additional square feet on its casino floor. As far as other potential new gaming options in the state, The Indiana Gaming Commission has also asked Spectrum Gaming Group for a Market and Policy Analysis surrounding the consideration of legalized iGaming in the state.

State-by-State

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