US – Gambling tax revenue surges passed $1bn in IndianaBy Phil - 7 October 2022
After experiencing negative pandemic related impacts in 2021, Indiana’s casinos posted significant year over year increases that boosted Indiana tax revenues tom the tune of $1bn.
Casino wagering and supplemental taxes for 2022 totalled $660m, up 18 per cent from $560m in 2021. Sports betting taxes were up 38 per cent, from $23m in 2021 to $31m in 2022. Total state-wide casino win was $2.5bn, up from $2.1bn the year before. While the racinos and southern casinos experienced significant growth of about 13 per cent, the northern Indiana market grew by 26 per cent.
Greg Small Executive Director said: “The expansion of the northern market, which grew by $236m from $900m in 2021 to $1.1bn in 2022, was fuelled primarily by the new Hard Rock Northern Indiana casino in Gary. The strength of Indiana’s gaming industry was also shown in the decision of Caesars to invest a total of $73.7m for projects at the state’s two racinos in Shelbyville and Anderson. Horseshoe Indianapolis in Shelbyville completed its $33.7m expansion in early 2022. The project expanded the gaming floor by 25,000 square feet, increased gaming positions including a 20-table poker room and high limit area, added food and beverage amenities, and created approximately 100 new jobs.
“A $40m expansion of Harrah’s Hoosier Park in Anderson began in Spring 2022 with a scheduled July 2023 completion date. The project will add 30,000 square feet to the facility and include additional gaming positions along with a high limit area, enhanced Caesars Rewards and promotional space, a new food outlet on the casino floor, and create 100 new jobs. Track side amenities and the sports book will also be refreshed,” he added.
The selection of Churchill Downs as the licensee for the Vigo County casino in December will bring a new gaming venue to the state.
Mr. Small said: “The coming biennium will see completion of The Queen of Terre Haute, which will feature an upscale resort-style 120-room hotel, rooftop bar, event space, and a gaming floor comprised of 1,000 slots and 34 table games. The total development cost of this project is anticipated to be $245m and it will create over 500 new jobs.”