Indiana Casinos Posts October Earnings of $207.6 Million

The Indiana Gaming Commission reported casino winnings totaling $207.6 million for October, the fourth straight month in which combined venues surpassed $200 million.

The figure was 1.7% higher compared to the $204.1 million reported for September, but also 3.2% lower than the $214.5 million generated in October 2021. While table games and slots revenue both increased month-over-month, table games revenue saw higher growth to $40.4 million. The 8.3% increase compared to September was also the first time since April that venues combined surpassed $40 million.

Indiana slot machine revenue totaled $167.2 million, up a modest 0.3% month-on-month, and barely enough to avoid a third straight month of declines in gaming discipline . Revenue per slot position of $11,497.01 was 81 cents higher than September.

There was $12.4 million in bonuses and free spins awarded by state host cities, an increase of $32,000 compared to September. After deductions, the state was eligible to tax casino revenues of $189.2 million, a 1.2% increase from the previous month.

Excluding the $4.5 million in state sports betting taxes, the 10 casinos and two racinos provided $48.5 million in tax revenue to the state coffers. Surcharges increased slightly to $4.2 million, but betting taxes collected were up 14% from September to $44.3 million.

Baccarat Swings at Hard Rock, Horseshoe Hammond

Hard Rock Northern Indiana remains the pacesetter for Hoosier state table game revenue, but its October total of $11.6 million was 9% below its September mark of $12.7 million. One of the biggest draws for baccarat in the region, punters found a groove at Hard Rock and limited the house to less than $6.5 million in card game revenue. That was down 21.5% month over month, though the chart decline was just 3% lower to $26 million.

About 15 miles away bettors were far less fortunate playing baccarat at Horseshoe Hammond. Sales there nearly doubled from September to $2.9 million, though the decline was just 2.4% larger at $11.5 million. The additional $1.4 million in baccarat revenue compared to September propelled Horseshoe’s revenue growth of 27.6% to $7.5 million in October.

Eight of the state’s 12 venues saw monthly table game revenue increases, with Caesars Southern Indiana returning to over $5 million after a 15.1% increase compared to September, thanks to baccarat and blackjack, which together made $660,000 more sales than in the previous month. Indiana Grand also ended a two-month slump, topping $4 million for the first time since August as earnings of $4.2 million were 12.5% ​​better than September’s total of $3.7 million .

As a percentage, Rising Star saw the largest month-over-month decline as its earnings of $103,063 were down 55.5% from September’s total earnings of $231,829. The big momentum there came at the craps tables when the September crowd closed $50,000 up front compared to the house keeping $75,000 in winnings.

Hard Rock completes revenue doubling on slots

Hard Rock, the only venue in the state to have $36.3 million in total winnings of $30 million, completed a double of the standings and slot win as slot revenue was just under $24.7 million amounted to US dollars. That was a 3.6% increase from September, when the venue beat Gary Horseshoe Indianapolis for first place by nearly $1.1 million.

Horseshoe Hammond rounded out the venues and cashed in $20 million in slot winnings, ending with $21.6 million. Caesars Southern Indiana, which ranked fifth with $16.1 million, was honored with $15,230 from 1,060 units for the largest revenue per slot position, about $31 better than Horseshoe Indianapolis with 1,553 positions.

Eight venues reported monthly increases in slots winnings, despite Hollywood Lawrenceburg losing just $10,000 from the $11.4 million reported in September. The biggest drop came from Ameristar Casino, where $12.9 million was down 4.9% compared to September and average slot earnings fell $500 per position to under $10,000.

Slot wins accounted for 80.5% of all Indiana casino wins in October, down more than a full percentage point from September and the lowest since 80.4% of total wins in June. Hard Rock (31.9%), Horseshoe Hammond (25.7%) and Caesars Southern Indiana (24%) were the only venues where at least 20% of their total profits came from the tables.

Photo: Shutterstock

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