Browse articles by topic

Indiana sports betting revenue up to $11.5m in October


Licensed operators in Indiana generated $11.5m in adjusted gross revenue from sports betting in October, while the handle for the state’s market increased rose to $91.7m.

Adjusted gross revenue was up 33.7% month-on-month from $8.6m in September, the first full month of legal wagering in the state.

The Penn National Gaming-run Ameristar Casino was the market leader by some margin, generating $5.0m in revenue from $46.2m in amounts wagered for October. Mobile was the main driver for Ameristar, with its DraftKings-powered sports betting platform turning revenue of $3.5m from $39.4m in wagers.

Caesars Entertainment’s Horseshoe Hammond, which led the market in the first month of operations, ranked a distant second with $1.7m in revenue and handle of $10.7m, all from retail activities.

The Hollywood Lawrenceburg posted $1.1m in revenue from stakes of $6.9m, while Harrah’s Hoosier Park followed with $1.05m in revenue and stakes $6.2m. The Blue Chip Casino posted $903,326 in revenue, including $197,786 in mobile revenue, courtesy of a FanDuel and GAN-run sportsbook, with handle of $6.9m for the month.

With customers staking $7.1m, the French Lick Resort had a higher handle than these three sites, but posted lower revenue at $554,653. Mobile was the primary source of income for the casino, with its Bet Rivers platform responsible for $496,744 of total revenue during the month.

The Indiana Grand was the only other location to have revenue in excess of half-a-million dollars for the month ($505,740), with a handle of $3.8m.

Indiana’s three other licensed casinos – the Majestic Star, Majestic Star II and Rising Star Casino – do not currently offer sports betting services.

As a result of higher levels of consumer wagering and operator revenue, the state was able to collect $1.1m in sports wagering taxes for the month.

Indiana could be set for more growth in November and beyond after last month it was revealed that casino operator Wynn Resorts struck a deal with Full House Resorts to roll out mobile sports wagering in the state.

Wynn brokered the agreement via its WSI US subsidiary, the primary operating company for its interactive gaming and sports wagering business. Full House operates the Rising Star Casino Resort in the state.

Wynn also agreed a similar deal with Full House for its Bronco Billy’s Casino and Hotel in Colorado, which recently voted to begin legal sports betting.

Image: Kevin Stephenson