Indiana sportsbooks' initial month sees $35.2 M handle in September

Indiana retail sportsbooks accepted $35.2 million in bets in September, producing $8.6 million in adjusted gross revenue for the sportsbooks. With Indiana's 9.5% tax, the state's win generated $813,103 in tax revenue.

Indiana Gaming Commission issued its monthly revenue report on Thursday, with positive results for all three new sportsbooks in Northwest Indiana. "The results exceeded our expectations," said Dan Nita, Regional President of Caesars Entertainment, of Horseshoe Hammond's sportsbook, The Book, as reported by the Chicago Tribune. "In the days after we opened our sportsbook, we had an increase of more than 10% in our daily attendance. There were also upticks in our food and beverage revenue. Adding a new amenity definitely affected different aspects of our business.”

Horseshoe Hammond, near Chicago, generated an Indiana-best handle of $8.98 million, yielding $2.1 million in revenue. Ameristar Casino in East Chicago was second with a $5.4 million handle, producing a $1.3 million win. Ameristar edged Hollywood Lawrenceburg, near Cincinnati, accepted $5.2 million in bets and won $1.2 million. 

Horseshoe Hammond had a sports wagering tax of $197,640, the highest in the state, while Ameristar East Chicago’s sportsbook had a sports wagering tax of $121,211 and Blue Chip Casino Michigan City’s sportsbook, $90,960. The three local sportsbooks together had a total sports wagering tax of $409,000, more than half the $813,103 total in taxes paid in September by all the new sports wagering facilities in the state. Nita said the state had a total handle of more than $35 million from the newly opened sportsbooks. Neither Majestic Star Casino in Gary have a sportsbook.

However, while Horseshoe's gaming revenues were up by 7% year-over-year in September, jumping from $31.7 million in 2018 to $34 million last month, neither Blue Chip nor Ameristar experienced the same positive effect on their gaming floor. Gaming revenues remained the same year-over-year for Blue Chip Casino, at $12.8 million, while Ameristar saw its revenues drop from $18.1 million to $17 million.

Total gaming revenues last month for all five casinos were $75.4 million, a 1% increase over the $74.1 million the five casinos took in the previous September, according to the IGC report.

Majestic Star I Casino brought in $7.1 million in revenues last month, up slightly from the $7 million it brought in the previous September, and Majestic Star II Casino took in $4.5 million last month, down from $5 million the previous September.

Nita said new customers combined with existing customers to give the Hammond casino its boost. "The percentage of guests that showed up for a second visit in a month increased four to five times higher than before," Nita said.

Regarding proposals for casinos recently submitted by two south suburban Illinois communities, Nita said he believes Caesars is positioned to compete against them.