According to the fiscal note tied to the new gaming law, Indiana officials expect the table games to produce $6.4 million in revenue to the state general fund in the first six months.<\/p>\n
For the 2021 fiscal year, which starts in July, state officials expect $12.6 million in revenue. That\u2019s about $1 million more than what they expect statewide sports betting to generate in FY21.<\/p>\n
And it\u2019s possible the racinos could generate more. The addition of table games at the tracks now puts those games less than an hour away from the state\u2019s largest city.<\/p>\n
I think we will very quickly be able to demonstrate that the market can support two to three times as many table games as we\u2019re currently set up with,\u201d Dan Nita, Caesars Entertainment\u2019s regional president, told the Associated Press<\/i>.<\/p><\/blockquote>\n
Per the state law, the racinos are not allowed to have more than 2,200 seats for gaming. According to the IGC\u2019s November revenue report, the Indiana Grand had 2,020 electronic gaming machines. Hoosier Park had 1,486.<\/p>\n
Racinos Already Major Tax Generators<\/h2>\n Even with only slots, the racinos were among the biggest casinos in the state, especially in terms of tax revenue generated.<\/p>\n
In November, the IGC reported the Indiana Grand generated $4.7 million in gaming taxes, the third-highest amount of the 13 state-licensed casinos. Hoosier Park, with $4 million in taxes, ranked fifth. That\u2019s also after the racinos deduct 12 percent of their gaming revenues and allocate that funding toward the state\u2019s Thoroughbred and Standardbred breeding development funds.<\/p>\n
For FY 2019, the Indiana Grand generated the second-most tax revenue with $68.6 million off revenues of $285.3 million. Hoosier Park produced $51.5 million, fifth-most in the state, off revenues of $214 million.<\/p>\n
The gaming law that expands table games to racinos will also lower the tax rate on racinos to 30 percent on revenues over $100 million starting in July.<\/p>\n","protected":false},"excerpt":{"rendered":"
Indiana\u2019s two racinos are now just hours away from offering table games at their venues. When the clock strikes 1 pm ET Wednesday, Harrah\u2019s Hoosier Park Racing and Casino will open 28 table games. At the same time, the Indiana Grand Racing and Casino will celebrate the opening of 43 table games. The addition of […]<\/p>\n","protected":false},"author":45,"featured_media":123372,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[33810,14577],"tags":[],"acf":[],"yoast_head":"\n
Indiana Racinos Celebrate New Year By Offering Live Table Games<\/title>\n \n \n \n \n \n \n \n \n \n \n \n \n \n\t \n\t \n\t \n \n \n \n \n \n\t \n\t \n\t \n