{"id":123369,"date":"2019-12-31T14:37:03","date_gmt":"2019-12-31T22:37:03","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=123369"},"modified":"2019-12-31T16:22:57","modified_gmt":"2020-01-01T00:22:57","slug":"indiana-racinos-celebrate-new-year-by-offering-live-table-games","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/indiana-racinos-celebrate-new-year-by-offering-live-table-games\/","title":{"rendered":"Indiana Racinos to Celebrate New Year by Offering Live Table Games"},"content":{"rendered":"

Indiana\u2019s two racinos are now just hours away from offering table games at their venues.<\/p>\n

\"\"
Workers at the Indiana Grand casino get table games ready at the Shelbyville racino. The tables will open there and at Hoosier Park Wednesday afternoon. (Image: WISH-TV)<\/figcaption><\/figure>\n

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 table games also means hundreds of jobs added at the two central Indiana tracks.<\/p>\n

\n

The table games come thanks to the expanded gaming bill state lawmakers passed last year. In addition to allowing sports betting<\/a> and paving the way for land-based casinos in Gary and Terre Haute, it also expedited the approval process for the tracks to offer such live table games as blackjack, roulette, craps, and baccarat.<\/p>\n<\/div>\n

Previously, Indiana state law kept racinos from offering table games until July 1, 2020. Hoosier Park has offered slots and other electronic games since 2008. Indiana Grand opened its gaming venue a year later.<\/p>\n

The Indiana Gaming Commission (IGC) formally approved the requests for both tracks to offer table games at its Dec. 17 meeting.<\/p>\n

Indiana Grand, located in Shelbyville, is about 25 miles southeast of Indianapolis. Hoosier Park in Anderson is roughly 40 miles northeast. Caesars Entertainment<\/a> owns both properties.<\/p>\n

Caesars Already Eyeing Expansion<\/h2>\n

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":"\nIndiana Racinos Celebrate New Year By Offering Live Table Games<\/title>\n<meta name=\"description\" content=\"The central Indiana racinos were allowed to offer table games starting on Wednesday thanks to the expanded gaming bill state lawmakers passed in the spring.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.casino.org\/news\/indiana-racinos-celebrate-new-year-by-offering-live-table-games\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Indiana Racinos Celebrate New Year By 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