In Indiana, the casino industry experienced a significant decline in revenue during the month of April, while sports betting saw a notable increase, according to the latest data from the Indiana Gaming Commission.
Casino revenue in the state dropped by nearly 20% in April compared to the previous month, falling from $169 million in March to $135 million in April. This decrease can be attributed to a variety of factors, including the ongoing COVID-19 pandemic and the temporary closure of several casinos due to safety concerns.
One of the hardest-hit casinos in April was the Hollywood Casino in Lawrenceburg, which saw a 36% decrease in revenue compared to the previous month. Other major casinos in the state, such as Tropicana Evansville and Harrah’s Hoosier Park Racing & Casino, also experienced declines of 22% and 17%, respectively.
On the other hand, sports betting in Indiana saw a significant uptick in April, with total handle reaching $236 million, a 9% increase from March. This surge in sports betting activity can be attributed to the return of major sports leagues, such as the NBA and NHL, as well as the growing popularity of online sports betting platforms.
The Indiana sports betting market continues to be dominated by DraftKings and FanDuel, which collectively accounted for over 80% of the total handle in April. Other sports betting operators, such as BetMGM and BetRivers, also saw an increase in activity during the month.
Despite the challenges facing the casino industry, there is optimism among industry experts that revenue will rebound in the coming months as more casinos reopen and the economy continues to recover from the impacts of the pandemic. Additionally, the legalization of mobile sports betting in Indiana has created new opportunities for growth in the sports betting sector.
Overall, the April revenue trends in Indiana’s gambling industry illustrate the dynamic nature of the market and the ongoing shift towards online and mobile betting platforms. As the state continues to navigate the challenges posed by the pandemic, it will be crucial for casinos and sports betting operators to adapt to changing consumer preferences and market conditions in order to remain competitive in the long term.
