The Senate Appropriations Committee voted Tuesday night to remove provisions that would have allowed casinos on Lake Michigan
and the Ohio River to move inland. It also made major changes to legislation that would have required schools to hold back
third-graders if they couldn’t read well.
Clear signs emerged in 2009 that the Hoosier gambling market is oversaturated.
Major credit rating agencies expressed concerns that several casinos, including the state’s new horse track “racinos”
on the outskirts of Indianapolis, might go bust before the year was finished.
The Indiana General Assembly is taking its first steps toward restructuring Hoosier gambling law.
State lawmakers are weighing possible changes to state gambling laws at a time when growing competition from out-of-state
casinos threatens to cut into business at Indiana’s 11 riverboat casinos.
The Gaming Study Committee’s report said allowing riverboat casinos to relocate inland could be helpful.
Despite rampant speculation, Anderson’s Hoosier Park is not facing imminent bankruptcy, according to its owner, locally
based Centaur Inc.
Indiana casinos on average pay the highest effective tax rate in the Midwest, according to a report by the Casino Association
Purses at Hoosier Park in Anderson and Indiana Downs in Shelbyville have swollen since the two tracks added slot machines
in June 2008.
Indiana’s casinos are facing increasing competition from gambling ventures in Michigan and Ohio that could pose a threat to
the $900 million in tax revenue the industry generates for the state.