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Indiana Casino Revenue Down 4% Monthly In October

Written By Katarina Vojvodic on November 14, 2023
Exterior Of Hard Rock Casino Northern Indiana

October marks the eighth consecutive month of yearly revenue drops for Indiana casinos, generating slightly over $174.65 million.

That money comes from 13 retail casinos and 12 sports betting operators, while online casinos remain illegal.

Throughout the month, Indiana casinos and sportsbook operators collected $46.80 million in taxes for the state, of which sportsbooks contributed $4.30 million.

Hard Rock Casino Northern Indiana remains the top performer

As the Indiana Gaming Commission’s latest report shows, operators in the state generated $174.65 million in adjusted gross revenue (AGR) with $169.60 million in taxable AGR throughout October.

The latter figure compares to $176.7 million in gaming revenue Indiana reported in September and is a 4.03% monthly decrease. It is also a 10.37% year-over-year decrease from October 2022’s $189.22 million.

These are best performing Indiana casino operators for the month:

  1. Hard Rock Casino Northern Indiana remains the No. 1 operator with $31.29 million in revenue. The figure is a 3.93% monthly decrease from September and a 9.28% yearly drop. Like in previous months, no other casino operator surpassed the $30 million mark in revenue.
  2. Horseshoe Indianapolis was the runner-up for October with $25.52 million in AGR. The number is a monthly decrease of 3.43% and a 4.74% yearly drop.
  3. Horseshoe Hammond was the third most successful operator, with $21.91 million in revenue, a 7.03% monthly drop and a 21.34% yearly decrease.

Two sportsbooks accounted for over 70% of revenue and handle

According to the IGC’s October 2023 gaming report, the state’s licensed sportsbooks generated nearly $429.67 million in handle (total bets) throughout October. The figure is a 6.32% monthly increase from September’s $404.14 million, the second-highest handle recorded this year after March.

However, October’s betting handle figure is a 3.71% yearly drop from the handle recorded in October last year.

Meanwhile, Indiana sportsbooks generated $45.23 million in adjusted sportsbook revenue, a 10.13% monthly increase but a 3.62% yearly drop.

Ameristar Casino was the most successful operator, generating $172.75 million in betting handle and $17.85 million in revenue. Blue Chip Casino was next with $147.07 million in total bets and $17.41 million in revenue.

The two sports betting operators accounted for 77.94% of statewide revenue and 73.23% of handle for the month.

Throughout the month, football was the most popular sport across Indiana sportsbooks. Here’s an entire breakdown of the statewide handle by sport:

  • Football: $153.3 million in bets
  • Parlay $142.29 million
  • Other $67.98 million
  • Basketball: $38.34 million
  • Baseball: $27.42 million
Photo by Guy Rhodes / Google Maps
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Katarina Vojvodic

Katarina Vojvodic is a lead writer for PlayUSA who lives in Toronto. Vojvodic provides coverage of the US gambling industry with a focus on US online casinos. Previously, she covered Ontario’s online gambling industry for PlayCanada.com. Vojvodic holds a master’s degree in journalism from the University of Belgrade. Outside working hours, she can be found near the water with her husband and their two kids.

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