Indiana Gaming Revenue Flat In Month Before Sports Betting

Indiana’s casinos saw a slight uptick in gaming win in the lead up to sports betting, which began Sept. 1.

According to figures from the Indiana Gaming Commission, the 13 casinos had gaming win of $190,176,714 in August, up a mere 0.20% over August 2018.

This year has been like last year for the state, as 2018 gaming win of $2,240,835,178 was up less than one-tenth of a percentage point over 2017.

Sports betting came at the right time, as Indiana’s gaming market has been a stagnant one in recent years.

After deductions, the casinos had $173,943,495 in taxable AGR last month, up 0.54% (but essentially still flat) from $172,993,050 in 2018.

Tables vs. slots

The 662 table games statewide generated $30,470,431, while electronic gaming tables and slot machines, of which there are 17,852 statewide, accounted for $159,706,283.

Slot/EGD win was down slightly, while table games were up slightly — but both win totals were effectively flat in a year-over-year comparison.

In August 2018, there were 673 table games and 18,305 slots/EGDs statewide, so the Hoosier State casino gaming supply fell slightly in a year-over-year comparison.

Sports betting figures

The state’s September sports betting numbers will be released in the first half of October.

Indiana began its sports betting industry with only retail, but online/mobile is expected to begin this fall.

According to a 2017 study from Oxford Economics, commissioned by the American Gaming Association, Indiana has the potential to see $6.5 billion in annual handle, which would generate more than $400 mm in annual gaming win.

Assuming no cannibalization of existing gaming, that would grow the state’s casino gaming market by more than 18% from current levels.

As of Wednesday, 13 facilities had been given their respective authorization to commence retail sports wagering. Fourteen have been issued certificates for the activity.

In addition to sports betting, Indiana’s gambling expansion package included a bolstering of the state’s market for table games and slots, so sports wagering is unlikely to take any bite out of the existing market.