According to a financial report presented to the Hoosier Lottery Commission on Tuesday morning, lottery sales are expected to hit $1.3 billion in fiscal year 2020, which is 1.1% less than budgeted and nearly 3% lower than in fiscal year 2019.
After delays, the Indiana Gaming Commission is poised to consider awarding a casino license to a subsidiary of Spectacle Entertainment, now that two former executives of Centaur Gaming have divested their interests in the project.
According to the revenue report released Monday morning by the Indiana Gaming Commission, Hoosiers wagered $26.3 million on sports in April.
A former Senate budget writer said the hit to the state budget could be bigger than during the Great Recession, when state revenue dropped 15% over two years.
The casinos’ futures remain up in the air as the Indiana Gaming Commission looks into allegations that a former Indianapolis gambling company and one of its officers were involved in a federal campaign finance scheme.
At nearly every turn, Rod Ratcliff or his companies or his associates have run into questions and concerns about the way they interact with the public officials who make the rules associated with the industry.
The XFL is baking sports betting into its operations as a crucial part of the recipe. Indiana is one of at least nine state where gambling regulators have approved wagering on XFL games.
Indiana Gov. Eric Holcomb on Monday said he backs the Indiana Gaming Commission’s probe into casino executives who have been implicated in a federal campaign finance scheme. The investigation has delayed action on a proposed new Indiana casino.
The Indiana Gaming Commission on Tuesday gave the final approval to Harrah’s Hoosier Park in Anderson and Indiana Grand Racing and Casino in Shelbyville to launch live-dealer table games.
The $91.7 million that Indiana sportsbooks accepted last month is almost triple the amount wagered in September when sports betting became legal.
Participants at the forum cautioned that while the industry is growing quickly, the high cost of acquiring customers and promoting a new business could lead to some current operators failing.
PlayUSA.com Network, a news and research organization that follows sports gambling and operates PlayNJ.com and PlayIndiana.com, called the first-month data “impressive.”
Indiana Grand Racing & Casino in Shelbyville, Ameristar Casino in East Chicago and Hollywood Casino in Lawrenceburg opened their sports books Sunday, the first day they were allowed by law.
The Indiana Gaming Commission voted Wednesday to allow the operator of Gary’s two casinos to relocate the properties inland, setting up the possibility for a casino near Terre Haute.
Indiana will become the 12th state—and the first in the midst of major Midwest markets—with sports betting when a new state law takes effect Sunday.
Indiana casinos are racing ahead with preparations to launch legalized sports betting in early September, looking to seize an advantage over competitors in Chicago and other nearby large markets where such wagers aren’t yet allowed.