Indiana casinos ticked upward in July with $198.4 million in revenue, a 5% gain over June. But the July figure fell short of the market’s total last July, the fifth-straight year-over-year decline for Indiana casinos.
The trend is at least somewhat concerning for a market that appeared to have climbed out of the massive hole the pandemic caused for entertainment options worldwide during 2020-21.
Indiana casinos showed $173.2 million in July revenue from slots, along with $$39.5 million from table games.
Indiana Casino revenue down Y0Y
Month-over-month declines heading into the slower summer months are nothing new, and the Indiana casino market actually did better in July than June. But a 4.2% drop over July 2022 is nothing to sniff at.
July 2023: $198,415,853
June 2023: $189,001,478
July 2022: $207,216,112
On the year, the market is down 2.4% over this time in 2022. Next door, Ohio casino revenues are slightly up over last year and on pace to set yet another yearly record in 2023. The Buckeye State isn’t blowing the 2022 figures out of the water, but it is still moving in the right direction, unlike Indiana.
Indiana casinos 2022 vs. 2023
Hard Rock Casino Norther Indiana leads the state
Hard Rock Casino Northern Indiana was July’s undisputed revenue leader with $34.2 million — $24.9 million from slots and $9.4 million from table games.
More than a third of Hard Rock’s revenue was generated by table games. The property hosts 76 table games, the fourth-most in the state behind Horseshoe Indianapolis, Caesars Southern Indiana and Horseshoe Hammond.
Hard Rock offers 1,749 slots, the most of any casino in Indiana. The property edged out its competition in slots revenue, beating Horseshoe Indianapolis (1,705 slots) by just over $2 million.
Rising Star brings up the rear
Rising Star Casino in Rising Sun, Ind. brought in the least revenue at roughly $4 million.
The casino is smaller than most others in the state with only 16 table games and 627 slots. Tables generated $509,429 while slots garnered $3,478,857.
Casino competition similar in July
Indiana casino revenue trends were all par with the course in July. The bigger casinos handily led the state in revenue. It’s simple: more games equals more money generated.
Other factors can contribute to these trends, of course, including location and proximity to competitors. The top three casinos by revenue in July were:
- Hard Rock Casino Northern Indiana: $34.2M
- Horseshoe Indianapolis: $26.8M
- Horseshoe Hammond: $22.5M
Sports betting handle dips in July while revenue rises
July often brings a lull in sports betting revenue, due in large part to the drought of major sports to bet on (aside from baseball). That trend continued in July as Indiana sportsbooks took $203.8 million in bets, the lowest monthly handle of the year so far.
However, it wasn’t all bad news. Revenue jumped to $23.3 million, a 22.1% increase over June and a 13.4% increase over July 2022.
A new Indiana casino is on the way
Indiana will soon have a new casino to add to the mix, potentially boosting the state’s revenue. Terre Haute Casino plans to open in 2024, and the property has already begun interviewing for hundreds of positions.
Available jobs include dealer positions, management, food and beverage workers, housekeeping and more.
Dealers in particular get a great deal: $500 in sign-on bonuses and paid training at $16 per hour. Dealers who get a full-time position will earn at least $22 per hour.