Report: Indiana Is Losing Out On $100M Monthly Revenue Without Legal Online Casinos

Although Indiana land-based casinos generated $200.2 million in revenue in August, the Hoosier State missed out on a boost that could’ve been considerably larger if the state had legal online casinos.

Indiana land-based casinos saw monthly revenue climb for the first time in August since May

According to data from the Indiana Gaming Commission (IGC), August marked the first time monthly revenue climbed since May and the third time this year that casino revenue surpassed $200 million.

While casino revenue is up 7.2% over July, regulated iGaming could’ve brought Indiana casino operators more than $116 million that month. Operators are losing over $100 million in revenue, and the state is missing out on tens of millions in tax revenue.

Four casinos are listed at the top of August’s revenue report: Harrah’s Hoosier Park, Caesars Southern Indiana, Horseshoe Indianapolis, and Belterra Casino.

The four casinos accounted for all $10.1 million of the $13.4 million in growth this past month. Harrah’s Hoosier Park led the competition with a $3.5 million increase, followed by Caesars Southern Indiana and Horseshoe Indianapolis ($2.6 million each), and Belterra ($1.5 million).

Furthermore, all 12 of the state’s 13 casinos posted positive revenue numbers in August, per the IGC’s August 2024 revenue report. As for year-over-year, revenue was up 13.3%, or $23.4 million higher than August 2023’s $176.7 million. Offshore sites are still available to residents.

Hoosier State fell short of legalizing online casinos

In January, Rep. Alan Morrison introduced House Bill 1048 to the House Committee on Public Policy. The Republican said the bill addressed what he considered to be “various gaming issues.”

The bill would have provided financial protections for casinos, riverboat casinos or units of government when there are potential revenue losses by another unit of government.

Additionally, the measure would also remove a requirement for a licensed riverboat owner operating in Vigo County to make certain payments to the city of Evansville.

Despite HB 1048 receiving its first reading before the House Committee on Public Policy, it failed to gain any traction among Republicans and Democrats alike.

Online casino legislation will be a hot topic when the Indiana General Assembly convenes in 2025.