In the month of May, Indiana’s casino revenue increased by 8% compared to April, with a total of $211 million in adjusted gross revenue (AGR), according to analysts at PlayIndiana.com. The state’s 13 casinos brought in a combined total of $60.2 million in tax revenue during May.
However, the state’s sports betting handle saw a 9% decrease from April and a 28% increase year-over-year, with a total of $361.6 million in wagers last month. The decline can be attributed to fewer sporting events as the NBA and NHL playoffs began and college basketball season ended. Betting is expected to decrease even more in June and July as most events will be WNBA and NHL games.
In terms of earnings, sports betting operators earned under $39 million in AGR, with most operators collecting over $1 million in wagers. Ameristar Casino in East Chicago had the highest handle at $133.9 million. Parlays accounted for approximately 28% of all bets in May, totaling $102 million. Basketball was the second most popular sport for betting, with $97 million in wagers, representing 27% of total bets. The state collected $3.7 million in tax revenue from sports betting in May.
Overall, Indiana’s gambling industry continues to thrive despite the decline in sports betting handle due to fewer sporting events taking place during May.
The Hard Rock Casino Northern Indiana remained the most popular and highest earning casino in the state during May, bringing in a total of $37 million AGR alone.
Horseshoe Indianapolis followed closely behind with $27.7 million AGR while Caesar’s Southern Indiana came third with $22 million AGR.
It is worth noting that despite the decline in sports betting handle compared to April, it still represents a significant increase when compared to May 2023 numbers.
