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June was not kind to Indiana casinos.
The latest data from the Indiana Gaming Commission reveals that monthly revenue plummeted nearly 10% this past month, with win dropping from $211 million to $190.4 million. None of the state’s 13 casinos saw positive from May to June, either.
Key takeaways
- Online casinos could bring Indiana casinos more than $80 million in revenue
- Revenue was down across the board in June.
- Casinos generated around $21 million less revenue in June than they did in May.
- Four casinos experienced double-digit revenue losses.
$80 million of iGaming revenue awaiting Indiana’s casinos
Real-money online casinos are illegal in Indiana and lawmakers have given little effort to legalize them in 2024.
The last major push for online casinos came in early 2023. Back then, the bill died because of a report presented to lawmakers that said online casinos could take up to 30% of business away from land-based casinos.
Since that report came out, multiple recent studies disproved that idea, noting that online casinos wouldn’t have much impact on their land-based counterparts.
In any case, Indiana online casinos are dead for now. That being said, if lawmakers take up iGaming again, the state’s casinos and tax coffers would benefit greatly.
Based on the most recent online casino revenue numbers from the seven states with active iGaming markets, PlayUSA predicts Indiana online casinos could earn more than $80 million monthly.
| June online casino revenue | Population (according to 2023 Census Bureau data) | Per-capita revenue | |
|---|---|---|---|
| Pennsylvania | $216.5 million | 13 million | $16.65 |
| Michigan | $198.6 million | 10 million | $19.86 |
| New Jersey | $192.1 million | 9.3 million | $20.65 |
| Connecticut | $46.3 million | 3.6 million | $12.86 |
| West Virginia | $17.9 million | 1.8 million | $9.94 |
| Delaware | $3.9 million | 1 million | $3.90 |
| Rhode Island | $2.3 million | 1.1 million | $2.09 |
| Average | $79.8 million | 6.5 million | $12.27 |
| Indiana | $84.7 million | 6.9 million | $12.27 |
All Indiana casinos experience month-on-month losses in June
June was not a good month for Indiana casino revenue but it’s not a cause for alarm. Casino markets across the country struggled in June, facing notable revenue drop-offs from May.
What makes Indiana’s revenue data an outlier is that all casinos saw revenue drops, whereas other markets had at least one or two casinos post positive monthly growth.
Four of the state’s 13 casinos saw revenue drop more than 10% when compared to Indiana’s May 2024 gaming revenue:
- Harrah’s Hoosier Park: -19.6%
- Horseshoe Indianapolis: -17.3%
- French Lick Resort: -14.8%
- Caesars Southern Indiana: -11.2%
| June 2024 adjusted gross revenue | May 2024 adjusted gross revenue | Month-on-month growth (%) | |
|---|---|---|---|
| Hard Rock Casino Northern Indiana | $34,293,625 | $37,037,958 | -7.4% |
| Horseshoe Indianapolis | $22,928,848 | $27,736,642 | -17.3% |
| Caesars Southern Indiana | $19,653,112 | $22,128,245 | -11.2% |
| Horseshoe Hammond | $19,454,526 | $20,805,658 | -6.5% |
| Harrah's Hoosier Park | $16,519,009 | $20,555,966 | -19.6% |
| Bally’s Evansville | $14,042,553 | $14,730,702 | -4.7% |
| Ameristar Casino | $14,005,390 | $14,632,311 | -4.3% |
| Hollywood Lawrenceburg | $11,637,110 | $12,844,585 | -9.4% |
| Terre Haute Casino | $11,378,254 | $12,252,726 | -7.1% |
| Blue Chip Casino | $10,639,402 | $10,662,277 | -0.2% |
| Belterra Casino | $6,484,290 | $7,064,742 | -8.2% |
| French Lick Resort | $5,845,308 | $6,864,096 | -14.8% |
| Rising Star Casino | $3,486,423 | $3,658,855 | -4.7% |
| Total | $190,367,850 | $210,974,762 | -9.8% |
