Indiana casino revenue down

The state gaming commission released the December numbers.

US.- The Indiana Gaming Commission (IGC) confirmed that the revenues of the state’s five casinos fell down 11.6 percent due to unfavorable weather conditions. The facilities totaled US$73.2 million in December, almost US$10 million less than in 2015.

Year-on-year revenues from January to December also experienced a 2.8 percent decrease in 2016: they posted a total of US$967.8 million in 2016, whilst they reported US$976.6 million in 2015. “The weather impacts things a little differently around the lake, it was kind of a rough month. I’m ready for 2017 to kick it off,” said vice president of finances for Horseshoe Hammond Steve Cox.

According to Spectrum Gaming Group (SGG), a global independent research agency, the Four Winds Casino in South Bend, Indiana, will cause a US$350 million fall on Indiana’s tax revenues in the first five years of functioning. The report commissioned by the Casino Association of Indiana (CAI) establishes that the tribal casino will cost other casinos in the state over US$800 million in revenue by detracting its customers, and it will drop revenue from gambling taxes approximately US$280 million, as well as US$73 million in income taxes.