{"id":226383,"date":"2022-08-13T23:50:43","date_gmt":"2022-08-14T04:50:43","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=226383"},"modified":"2022-08-14T16:52:08","modified_gmt":"2022-08-14T21:52:08","slug":"indiana-casino-and-sportsbook-revenues-rebound-in-july","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/indiana-casino-and-sportsbook-revenues-rebound-in-july\/","title":{"rendered":"Indiana Casino and Sportsbook Revenues Rebound in July"},"content":{"rendered":"

Indiana\u2019s casinos enjoyed a good start to the fiscal year in July.<\/p>\n

\"Indiana\"<\/a>
An aerial view of Monument Circle in Indianapolis at dusk. Indiana’s casinos for July reported taxable AGR of $201.2 million, a $12.5 million increase from June. (Image: SeanPavonePhoto\/Adobe Photo Stock)<\/figcaption><\/figure>\n

According to the monthly data released by the Indiana Gaming Commission (IGC) on Friday, the 12 state-licensed commercial casinos reported $201.2M in taxable adjusted gross receipts (AGR) for the month. That\u2019s a 6.7% increase from June\u2019s total<\/a> of $188.7 million.<\/p>\n

More importantly, it ended a three-month skid that saw revenues slide as economic conditions worsened. While the economy may be technically in a recession \u2013 based on the definition that the country\u2019s gross domestic product shrank for the second quarter \u2013 other indicators like a good jobs market and falling gas prices help offset that.<\/p>\n

\n

There\u2019s also some perspective that\u2019s needed here. While there had been steady declines since March\u2019s $219.2 million taxable AGR, those months still represented some of the highest totals in Indiana, dating back to at least 2017.<\/strong><\/p>\n<\/div>\n

Since 2017, there have been 10 months where monthly taxable AGR broke $200 million. Seven of those have happened since April 2021. The other three occurred in March of 2017, 2018, and 2019.<\/p>\n

So Indiana\u2019s casinos are still amid a strong run, and if certain economic factors continue to settle, they look poised to keep that going.<\/p>\n

Hard Rock Stays No. 1<\/h2>\n

The state\u2019s newest casino continues to be its top producer.<\/p>\n

Hard Rock Northern Indiana<\/a> reported a total win of $36.8 million, more than $6 million ahead of Horseshoe Indianapolis. After $1.5 million in free-play credits and other deductions were taken, the Gary land-based casino reported a taxable AGR of $35.3 million.<\/p>\n

Horseshoe Hammond reported a taxable AGR of $26.5 million, with Horseshoe Indianapolis reporting $26.2 million after taking a 12% reduction from its win for its racino operations.<\/p>\n

The best month for a Southern Indiana casino belonged to Caesars Southern Indiana, as the EBCI Holdings property reported a taxable AGR of $21.2 million.<\/p>\n

With July’s start of the fiscal year, Indiana\u2019s progressive tax rates on casino revenues reset. That\u2019s why state tax receipts fell by more than half from June\u2019s $65.7 million to $32.4 million in July, even though revenues increased monthly.<\/strong><\/p>\n

For most casinos in the state, the first $25 million in AGR is taxed at 15%. The rate increases to 20% for the next $25 million and 25% for the $25 million after that. AGR between $75 million and $150 million is taxed at 30%, with revenues between $150 million and $600 million taxed at 35%.<\/p>\n

If any casino reports more than $600 million in AGR, those revenues get taxed at 40%.<\/p>\n

Sports Betting Handle Drops, Revenue Rises<\/h2>\n

Moving to sports betting, Indiana continues to rank among the top states in the country in terms of handle.<\/p>\n

The state\u2019s sportsbooks reported a handle of $206.6 million for July. That\u2019s down nearly $50 million from June\u2019s total due to fewer sporting events during the month. However, it represents a $12.1 million increase from the July 2021 report.<\/p>\n

The sportsbooks reported a better win rate even as the handle went down. July\u2019s taxable AGR of $20.9 million was a 32.3% increase from the $15.8 million sportsbooks won in June.<\/strong><\/p>\n

Indiana also received nearly $500,000 more in taxes because of the better month for the books. According to the IGC, the sports betting tax generated nearly $2 million for the state.<\/p>\n

FanDuel once again claimed the top spot among sportsbooks. Its $61.5 million handle for the month was $1.4 million better than DraftKings. The Flutter Entertainment brand reported gross revenues of $7.3 million, while DraftKings won $4.5 million.<\/p>\n","protected":false},"excerpt":{"rendered":"

Indiana\u2019s casinos enjoyed a good start to the fiscal year in July. According to the monthly data released by the Indiana Gaming Commission (IGC) on Friday, the 12 state-licensed commercial casinos reported $201.2M in taxable adjusted gross receipts (AGR) for the month. That\u2019s a 6.7% increase from June\u2019s total of $188.7 million. More importantly, it […]<\/p>\n","protected":false},"author":45,"featured_media":226384,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[62,33810],"tags":[82328],"acf":[],"yoast_head":"\nIndiana Casino and Sportsbook Revenues Rebound in July - Casino.org<\/title>\n<meta name=\"description\" content=\"The Indiana Gaming Commission's July report saw the end of a three-month skid that saw revenues slide as economic conditions grew worse\" \/>\n<meta name=\"robots\" content=\"noindex, follow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Indiana Casino and Sportsbook Revenues Rebound in July - Casino.org\" \/>\n<meta property=\"og:description\" content=\"The Indiana Gaming Commission's July report saw the end of a three-month skid that saw revenues slide as economic conditions grew worse\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/indiana-casino-and-sportsbook-revenues-rebound-in-july\/\" \/>\n<meta property=\"og:site_name\" content=\"Casino.org\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Casino.OrgNews\" \/>\n<meta property=\"article:published_time\" content=\"2022-08-14T04:50:43+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-08-14T21:52:08+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/08\/AdobeStock_202337179-scaled.jpeg\" \/>\n\t<meta property=\"og:image:width\" content=\"2560\" \/>\n\t<meta property=\"og:image:height\" content=\"1709\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Steve Bittenbender\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:site\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Steve Bittenbender\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.casino.org\/news\/indiana-casino-and-sportsbook-revenues-rebound-in-july\/\",\"url\":\"https:\/\/www.casino.org\/news\/indiana-casino-and-sportsbook-revenues-rebound-in-july\/\",\"name\":\"Indiana Casino and Sportsbook Revenues Rebound in July - Casino.org\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/indiana-casino-and-sportsbook-revenues-rebound-in-july\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/indiana-casino-and-sportsbook-revenues-rebound-in-july\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/08\/AdobeStock_202337179-scaled.jpeg\",\"datePublished\":\"2022-08-14T04:50:43+00:00\",\"dateModified\":\"2022-08-14T21:52:08+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/eb30e765d812fc9b38b333f8d13068b2\"},\"description\":\"The Indiana Gaming Commission's July report saw the end of a three-month skid that saw revenues slide as economic conditions grew worse\",\"breadcrumb\":{\"@id\":\"https:\/\/www.casino.org\/news\/indiana-casino-and-sportsbook-revenues-rebound-in-july\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.casino.org\/news\/indiana-casino-and-sportsbook-revenues-rebound-in-july\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/indiana-casino-and-sportsbook-revenues-rebound-in-july\/#primaryimage\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/08\/AdobeStock_202337179-scaled.jpeg\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/08\/AdobeStock_202337179-scaled.jpeg\",\"width\":2560,\"height\":1709,\"caption\":\"An aerial view of Monument Circle in Indianapolis at dusk. 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