Indiana Casinos Enjoy Double-Digit Revenue Growth In March
Indiana casinos had a solid March, racking up a total adjusted gross revenue (money gambled minus wins and promotions) of more than $217 million. Month-on-month, casinos boosted their revenue by around 10%.
Sports betting revenue also saw a surge in handle and revenue, thanks to March Madness.
Indiana casino revenue by the numbers for March 2023
In total, casinos in Indiana generated $217,916,547 in adjusted gross revenue this past month. As is the standard, slots and electronic games accounted for the majority of that revenue: 84.3%, to be exact.
In terms of individual casinos, Hard Rock Casino Northern Indiana led the way with the biggest revenue share. The state’s top-five revenue generators were:
- Hard Rock Casino Northern Indiana: $38.2 million
- Horseshoe Indianapolis: $33.2 million
- Horseshoe Hammond: $28.0 million
- Caesars Southern Indiana: $23.0 million
- Harrah’s Hoosier Park: $20.7 million
Hard Rock and Horseshoe Indianapolis saw the biggest jumps in revenue. Each property brought in around $5 million more than in February.
Revenue by casino
| Casino | Adjusted Gross Revenue for Sports Betting | Adjusted Gross Revenue for Slots and Table Games | Total Tax Revenue |
|---|---|---|---|
| Ameristar Casino | $13,806,656 | $18,308,78 | $7,382,823 |
| Bally’s Evansville | $249,801 | $16,056,495 | $5,301,500 |
| Belterra Casino | $4,653,098 | $6,496,364 | $2,260,376 |
| Blue Chip Casino | $16,230,291 | $10,533,068 | $5,070,456 |
| Caesars Southern Indiana | $260,084 | $23,036,296 | $8,612,640 |
| French Lick Resort | $1,132,380 | $6,467,650 | $1,142,400 |
| Hard Rock Casino Northern Indiana | $408,057 | $38,181,736 | $13,916,757 |
| Harrah’s Hoosier Park | $3,519,253 | $20,698,576 | $5,798,753 |
| Hollywood Lawrenceburg | $1,613,514 | $14,243,209 | $4,800,843 |
| Horseshoe Hammond | $125,857 | $27,907,847 | $10,502,516 |
| Horseshoe Indianapolis | $784,483 | $33,202,520 | $8,839,991 |
| Rising Star Casino | $59,098 | $2,784,006 | $381,455 |
| Total | $42,842,572 | $217,916,547 | $74,010,510 |
Sports betting gets huge boost from NCAA tournament
On the sports betting side, March proved to be the lucky charm once again. March Madness drove sports betting revenue up by 54.8% month-on-month.
Indiana sportsbooks generated $42.8 million in total revenue last month, compared to $27.7 million in February. Blue Chip (FanDuel) and Ameristar (Barstool) led the way with $16.2 million and $13.8 million in revenue, respectively.
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