September marked the seventh month in which Indiana casinos surpassed $200 million in revenue in 2022. It was a slight decrease from last month and also September of 2021.
State collected nearly $50M in taxes in September
Indiana casinos generated a combined $204.1 million in revenue for the month. The state collected $48.2 million in taxes. Slots brought in $39.3 million and table games, $4.1 million. The final $4.9 million came from Indiana’s sports wagering tax. It was recently announced that the state collected more than $1 billion in tax revenue from July 2021 through June 2022.
September’s revenue was down 0.8% from August ($205.8 million) and a 1.2% decrease from September 2021 ($206.6 million).
Table games made up $37.3 million of the $204.1 million total, with slots accounting for the remainder.
Has a baseline been established?
While year-over-year numbers are down seemingly every month, Indiana’s casinos still appear to be leveling off respectably. Casinos reopened in 2021 in booming fashion across the nation, likely due to post-lockdown excitement, a series of stimulus checks and more.
The excitement has since waned in many places, and increased inflation has followed as a result of trillions of additional dollars in circulation throughout our nation’s economy.
But Indiana’s casinos have only failed to record under $200 million in a month twice this year, in January and June. As such, that number could be a new monthly baseline.
Indiana 2022 casino revenue monthly breakdown
- September: $204.1 million
- August: $205.8 million
- July: $221.1 million
- June: $197.2 million
- May: $211.9 million
- April: $229.1 million
- March: $235.2 million
- February: $201.3 million
- January: $190.1 million
Hard Rock on top for 12 straight months
Hard Rock Casino Northern Indiana was tops in revenue, totaling $36.6 million. It has led the state for 12 consecutive months, surpassing Horseshoe Hammond in October 2021 and never looking back.
For September, Horseshoe Indianapolis ($27.4 million) also outdid its sister property in Hammond ($27.3 million). Less than $93K separated the two casinos.
Caesars Southern Indiana ($20.3 million) was the only other casino above $20 million in revenue for the month. Harrah’s Hoosier Park ($19.5 million) just missed that mark.
Others above $10 million for the month included Ameristar ($16.2 million), Bally’s Evansville ($14.8 million), Hollywood Lawrenceberg ($13.6 million) and Blue Chip Casino ($11 million).
The final three were as follows: Belterra Casino ($7.1 million), French Lick Resort ($6.7 million) and Rising Star Casino ($3.6 million).
Sports betting on the rise
Football season gave Indiana sportsbooks a massive boost for September, recording $382.5 million in wagers. It was a 60% increase from August’s $238 million handle and a 7.7 YoY increase.
At least $153 million was from football. Because the Indiana Gaming Commission separates parlay bets from all other sports, that number was likely over $200 million.
Breakdown of wagers:
- Football: $153.9 million
- Parlay: $108.7 million
- Baseball: $53 million
- Basketball: $10.3 million
- Other: $55 million
Revenue totaled $51 million, good for a 13.4% hold and $4.9 million in taxes for the state.
Ameristar ($134 million), partnered with DraftKings, accounted for over one-third of wagers. Blue Chip Casino ($108.5 million) was second, thanks to its partnership with FanDuel.
If sports betting trends follow last year’s numbers, we can expect even bigger numbers through January. The current monthly record handle is $500.1 million, set last January. It could be challenged again in 2023.
