Indiana Casino Revenue Takes Small September Dip To $194.7M

A set of mixed results across Indiana's 10 casinos and two racinos resulted in a slight dip in September casino revenue to $194.7 million.
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The Indiana Gaming Commission reported casino revenue totaling slightly more than $194.7 million for September, a practically negligible month-over-month decline versus August.

The state’s 10 casinos and two racinos posted a cumulative win of $206.6 million, which was 1.3% off August’s total of $209.3 million and well off July’s 2021-best $235.7 million. In September, though, the casinos also reported less free-play revenue — nearly $12.1 million versus the $12.6 million from August — which shrunk the month-over-month adjusted revenue gap to less than $1.3 million and resulted in a decline of 0.6%.

Despite the slight decline in AGR, the state collected close to $39.6 million in wagering taxes — a 24.3% increase compared to the $31.8 million collected in August. When adding supplemental and sports wagering taxes, Indiana coffers received nearly $47 million in September, close to 25% more than the $37.6 million in August. The $3.2 million in sports wagering taxes last month was more than double the $1.5 million collected in August.

Northwest Indiana venues continue to pace revenues

While Chicago is considered an underserved market when it comes to casino gaming and one of six places Illinois Governor JB Pritzker approved for a license in June 2019, people are definitely making their way east over the state line to play at one of Indiana’s three casinos less than an hour’s drive from the Loop.

Horseshoe Hammond, Hard Rock Northern Indiana, and Ameristar Casino ranked first, second, and fourth, respectively, among casinos for September adjusted gaming revenues and generated a combined $78.5 million. Ameristar and Hard Rock were the lone venues to average more than $100,000 per table, with Ameristar in East Chicago edging out newcomer Hard Rock in Gary by less than $1,100 per table. Hard Rock, however, easily took honors for most revenue derived from table games at more than $8.2 million from 80 tables, with Horseshoe second with over $7.8 million spanning 116 tables.

The trio also combined for more than $62.3 million in slot revenue, which was a decline of 0.8% from August. The $503,964 decline can be solely attributed to Ameristar Casino, which saw slot revenue dip 5.5% to $16.1 million, nearly $1 million less than August’s total of close to $17.1 million. Horsehoe Hammond led all venues in slot profits with $24.9 million from its 1,996 machines.

Overall, slot revenue dips but table games profits climb

The state’s two racinos, Harrah’s Hoosier Park and Indiana Grand, ranked 1-2 among all venues for average revenue per slot machine. Harrah’s Hoosier Park averaged $15,651 across its 1,181 machines — 56 fewer than were active in August — while Indiana Grand netted an average of $14,604 from its 1,541 slots and totaled $22.5 million in profits.

Nine of the 12 gaming locations reached eight figures in slot revenues, with six topping $15 million. Seven of those venues averaged more than $10,000 per unit, with the $11,306 per slot machine statewide 1.1% lower than August’s average of $11,426. Still, the $167.8 million generated from 14,837 slots in September was 1.8% lower compared to the $170.8 million the previous month.

Conversely, there was a small bump in table game revenues to just under $38.9 million spanning 628 tables for an average of $61,887. The total represented a 1.2% increase from August’s haul of $38.4 million and average of $61,183.

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