After closing 2021 with a flourish, Indiana’s casinos dealt with a New Year’s hangover as revenue dropped sharply to start 2022.
The state’s 10 casinos and two racinos reported close to $190.1 million in total win to the Indiana Gaming Commission for January. While that figure represented a year-over-year increase of 13.4% from the $167.6 million in 2021, it is not a true like-for-like comparison, since Hard Rock Northern Indiana did not open its doors to the public until last May.
The month-over-month numbers show a 10.2% decline from December’s total of $211.6 million. Weather played a contributing factor, as a two-day snow event in late January impacted totals at the state’s three venues in Northwest Indiana. Hard Rock, Ameristar, and Horseshoe Hammond’s combined $74.4 million win total in January was 8.1% lower than the $81 million from December.
Of the overall total win, $174.1 million was eligible to be taxed by the state, as $9.9 million was marked as free play by operators. Five venues reported more than $1 million in free play, paced by $1.75 million at Horseshoe Hammond and $1.5 million at Hard Rock.
The state collected close to $50.2 million in wagering taxes, a decline of 6.5% compared to December. The $3.8 million in supplemental taxes, however, was 54.8% higher month-over-month. Those totals do not include the nearly $3.4 million in state taxes from sports betting, as operators claimed $35.6 million in revenue from a record $500.1 million wagered.
Hard Rock continues to dominate table games
Since opening its doors, Hard Rock has shown the consistent ability to outperform its peers at table games, and this trend continued into 2022. It was the only venue to reach eight figures in table win at just over $10 million, accounting for more than a quarter of the $37.3 million total in Indiana despite having the fourth-most tables (80). Hard Rock averaged more than $125,000 per table, more than double the state average of nearly $57,500.
Horseshoe Hammond was a distant second in table win at $7.1 million and finished fourth in table average at just shy of $62,000. Harrah’s Hoosier Park had the second-best average at close to $96,000, generating nearly $2.5 million at its 26 tables.
Table games accounted for close to 20% of total win at Indiana casinos, roughly in line with both month-over-month and year-over-year comparisons. Bettors walked away from tables slightly richer at Rising Star for the second time in three months, coming out close to $200,000 ahead at its 16 tables in January.
Overall, Hard Rock paced all venues in total win with just over $30 million, while Horseshoe Hammond and Indiana Grand rounded out the top three at $28 million and $25 million, respectively. None of the 11 locations posted a month-over-month gain in total win.
Indiana Grand top EGD revenue generator
It was a tight three-way finish among the top slot/EGD revenue generators, won by Indiana Grand at nearly $20.9 million. The racino, which also led the state in per slot average at nearly $14,400 for its 1,451 devices, edged out Horseshoe by $15,249 despite the latter having a state-leading 1,903 spots. Hard Rock took third with over $20.1 million from its 1,647 slots.
The state’s racinos finished 1-2 in average revenue per slot, as Harrah’s finished just above $14,200. The statewide per slot average was $10,382, and seven venues had averages of $10,000 or higher.
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