Indiana Casinos Generate $195.2Million In Revenue For February
Indiana casinos reported $195.2million in revenue in February, an increase of 2.8% from February last year, according to the Indiana Gaming Commission.
The overall increase was driven solely by slot machine revenue, which rose 6.4% to $164.9m.
Revenue from table games decreased by 13.3% to $30.3m, resulting in a total revenue loss of 0.2%.
Top Performers Drive Market
Hard Rock Casino reported $35.5m in revenue, an increase of about 3.3%.
The facility is located in Gary (30 miles from Chicago) and cost $300m to build on the site of the former Majestic Star Casinos, which opened in 2021.
“The overall increase was driven solely by slot machine revenue.”
The facility features 200,000 square feet of gambling floor space, with historic music artifacts, including more than 170 items of memorabilia from stars such as Michael Jackson’s red leather jacket worn in the “Beat It” music video.
The remaining 150,000 square feet of gambling floor is divided into five dining options, as well as an area that accommodates 1,954 audience members for live performances.
Horseshoe Indianapolis brought in $26.8m in revenue in 2019, down 0.7% from 2018.
It is located in Shelbyville, southeast of downtown Indianapolis, and it has a 233,000-square-foot gaming facility with both a casino and a thoroughbred horse racing operation.
The racetrack at Horseshoe, known as Indiana Downs, has hosted capacity crowds for live horse racing from April to October, including the Indiana Derby.
Horseshoe Indianapolis was acquired by Caesars Entertainment in a merger and rebranded in January 2020.
In Anderson, IN, Harrah's Hoosier Park was the second-highest-grossing casino after the Horseshoe, with $20.6m in revenue (up 7.1%).
It originally opened as a harness racetrack in 1994 and later built a 92,000-square-foot casino in 2008.
The live racing season runs from April through November, and has hosted multiple Breeders' Cup championships.
Caesars also runs three off-track betting facilities throughout Indiana.
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Notable Gains And Declines
Several smaller casinos posted double-digit gains. Rising Star Casino in Rising Sun saw a 22% increase to $3.2m.
The casino is located just southwest of Cincinnati along the Ohio River. It opened in 1996, was acquired by Full House Resorts in 2011, and underwent an expansion that added a 104-room hotel tower.
Caesars Southern Indiana saw a 19.9% increase to $19.7m.
Originally a riverboat, the property transitioned to a land-based facility in 2019, with $90m in renovations. In 2021, the Eastern Band of Cherokee Indians purchased the operating business but continues to license the Caesars name.
“Revenue from table games decreased by 13.3% to $30.3m, resulting in a total revenue loss of 0.2%.”
The original land-based facility is now Bally's Evansville Casino, which opened in 1995; it recorded a 12.7% increase in revenue to $14.3m in 2022.
Not every casino was growing last month; however, Horseshoe Hammond had the biggest drop, down 10.8% to $18m.
Located just outside Chicago, it has one of the largest gaming floors and a 34-table poker room that hosts many World Series of Poker Circuit events.
Ameristar Casino in East Chicago had the second-largest drop at 7.4% to $11.8m, while Hollywood Lawrenceburg's sales fell by just 1.8% to $11.8m.
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