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Legislators in Indiana currently aren’t touching the topic of gaming expansion with the longest of poles. Regardless, tax revenue from the state’s brick-and-mortar casinos has continued to decline from previous highs in the state.
During March, Indiana collected almost $76.2 million in taxes from its physical casinos in addition to legal sports betting ongoing in the state. While that’s only down marginally from the same month in 2023, a marginal decline isn’t putting more money in the state’s coffers.
March gaming numbers show a slight decline in Indiana
According to the latest report from the Indiana Gaming Commission, the state’s 13 brick-and-mortar casinos reported almost $213.6 million in adjusted gaming revenues for March 2024. That includes revenue from poker, slots, and table games at the casinos.
Combined with action from the state’s legal sportsbooks, that translated to almost $207.3 million in taxable revenue. Both of those figures represented marginal decreases from March 2023 Indiana gaming revenue totals.
Adjusted revenue for the current fiscal year tells a bit more grim story, however. Through March, that running total of nearly $1.7 billion is down 5.6% compared to the first nine months of FY2022-23.
The lack of growth in Indiana’s gambling industry likely has many factors behind it. At this time, a potential way to reverse the trend is off the table.
Online casino legalization is a touchy subject in Indiana
In Indianapolis right now, gaming expansion of any kind is a dead-end conversation. That’s mostly because former Indiana Rep. Sean Eberhart pleaded guilty to federal corruption charges connected to the 2019 expansion of gambling.
With 2024 also being an election year, legislators are hesitant to broach any subjects that could be controversial. Nonetheless, there is robust interest in the state when it comes to online gambling. For example, Indiana residents and visitors wagered over $485.4 million in March using the state’s legal online sportsbooks.
While other figures related to gambling in Indiana are on the downturn, that amount wagered represents a significant increase from March 2023. Online casino play tends to not only be more consistent for licensees but also far more lucrative than sports betting.
As a result, Indiana is likely sacrificing millions of dollars in tax revenue monthly. Unless there’s a drastic improvement in other gaming revenue, that will continue to be the case until it legalizes online casino apps.
