Home » Casino revenue falls, sports betting rises in April – Inside INdiana Business

Casino revenue falls, sports betting rises in April – Inside INdiana Business

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A look inside the new Terre Haute Casino Resort. (Cate Charron / Inside INdiana Business)

Despite a new casino opening last month, revenue from Indiana’s casinos saw a year-over-year declines in April. However, analysts at PlayIndiana.com report the state’s sports betting handle saw a major increase over the same month last year.

Indiana’s 13 casinos, including the new Terre Haute Casino Resort that opened April 5, collected a combined $194.8 million in adjusted gross revenue last month, down 5% from April 2023.

Hard Rock Casino Northern Indiana in Gary continues to be the highest-earning casino in the state with $28.4 million last month, followed by Horseshoe Indianapolis in Shelbyville with $27.1 million and Horseshoe Hammond with $20.3 million.

The state received $57.1 million in tax revenue from the casinos last month.

But sports betting was strong in April, driven largely by basketball with the NCAA championship and the start of the NBA playoffs.

Indiana’s sportsbooks collected $393.9 million in wagers last month, up 23% from April 2023. However, that total was still 21% lower than March’s near-record handle.

The majority of Indiana’s sports betting operators collected more than $1 million in wagers, with Belterra Casino Resort in Switzerland County topping the list at $31.7 million.

Just over $121 million, or 31%, of wagers were for basketball, followed by parlay bets at nearly $117 million.

Tax revenue from sports betting in April totaled $3.5 million paid to the state, marking a 31% increase over April 2023.

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