The growth of gambling in neighbouring states has affected Indiana’s market, which reported a 26.9% decline in casino revenues in August.
US.- According to the Indiana State Budget Agency, the 10 casinos in Indiana reported a 26.9% in revenues during last month’s operations when compared to the same period last year to US$7.8 million. The figure is significantly lower than the US$11.4 million that Indiana expected for last month’s operations.
Matt Bell, CEO of the Casino Association of Indiana, said that these results seem to be part of a continued trend. The executive commented that losses have been happening for at least ten years, Tribune Star reported.
“That drop is a reflection of a number of things, perhaps most importantly, increased competition from neighbouring states. Ohio’s entry into the markets, the continued expansion in Illinois and Michigan all had an impact on us,” Bell said.
The two racinos in Indiana experienced an increase in revenues in August. The facilities registered US$8.6 million in revenue in August, which represents an 11.5% increase from what the state was expecting. The figure is also a 1.6% rise from August 2018.
Bell said that the results are due to the location of the racinos, which are located in Central Indiana. He added that the numbers are likely to increase in January, when the live dealers are allowed.