International edition
August 06, 2020

Northwest Indiana's five casinos scored a 14.5% increase in YoY gaming revenues

Indiana sports betting handle tops $170M record in January

Indiana sports betting handle tops $170M record in January
In January, Horseshoe had a handle of about $13.7 million and taxable adjusted gross revenue of $1.8 million.
United States | 02/17/2020

The state's handle last month was 5.57% greater than the $161.8 million bet on sports in December. Horseshoe Hammond, Ameristar in East Chicago, Blue Chip Casino in Michigan City and Majestic Star I and II casinos in Gary took in a combined total of approximately $75.4 million in gaming revenues in January.

S

ports bettors wagered $170.8 million through Indiana casinos and mobile applications in January — a new record.

Indiana's sports wagering handle last month was 5.57% greater than the $161.8 million bet on sports in December, according to data released Monday by the Indiana Gaming Commission. In comparison, Indiana saw 9.9% growth in its sports wagering handle in December versus November, 60.7% growth in November from October, and 160.4% growth in October relative to the first month of legal sports wagering in September.

A favorable calendar, the advent of sports betting and, most of all, a mild winter helped Northwest Indiana's five casinos kick off 2020 on a winning note, scoring a 14.5% increase in year-over-year gaming revenues in January. The three local casinos combined handled nearly $9 million in sports bets in January.

"I think it's more the weather, but sportsbooks did play a role," said Dan Nita, regional president for Caesars Entertainment, Horseshoe Hammond's parent company, as reported by Chicago Tribune.

Sportsbooks weren’t opened until the start of football season so there are no year-over-year comparisons. However, sports betting was strong last month at the region’s three sportsbooks — Horseshoe’s The Book, Blue Chip’s Fanduel, and Ameristar’s sportsbook — with the Super Bowl in early February and March Madness soon to follow. 

"We're very pleased at Horseshoe with the continued growth in retail sports betting volume," Nita said. "Sportsbooks have had positive results for Horseshoe and Northwest Indiana."

In January, Horseshoe had a handle of about $13.7 million and taxable adjusted gross revenue of $1.8 million. Ameristar's handle was $73 million and its taxable AGR was $6 million, while Blue Chip's handle was $52 million with a taxable AGR of $2.8 million. Neither Majestic Star casino has a sportsbook.

Horseshoe Hammond, Ameristar in East Chicago, Blue Chip Casino in Michigan City and Majestic Star I and II casinos in Gary took in a combined total of approximately $75.4 million in gaming revenues in January, compared to about $66 million in revenues in a much colder January 2018. Every casino posted increases, according to the monthly revenue report released Feb. 10 by the Indiana Gaming Commission.

Ameristar raked in $17.9 million in slots and table game revenue, a 10.5% hike over the $16.2 million it took in the previous January, Blue Chip took in $12.23 million compared to $10.3 million, an 18.7% jump. Horseshoe Hammond brought in $34 million compared to $28.6 million, an almost 19% hike,

Majestic Star I took in $6.9 million compared to $6.5 million, a 6% climb, and Majestic Star II brought in $4.4 million compared to $4.3 million, a 2.3% increase. "I think it's a great way to kick off 2020," said Nita, who added that Horseshoe saw growth in both coin in and table drop.

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