Inflationary pressures can be seen in total casino revenue in the state, which totaled $207.6 million in October, compared to $214.5 million in the same month last year, down nearly $7 million , according to the Indiana Gaming Commission’s monthly report.
Hard Rock Northern Indiana continued its winning streak as the state’s highest-earning casino for the 13th straight month after reporting $36.3 million in revenue in October, according to IGC. The number is up about $3.6 million from October 2021, when the casino reported a profit of $32.7 million, according to IGC.
Both Horseshoe Casino Hammond and Ameristar Casino East Chicago have seen their profits decline year after year. Horseshoe’s October revenue decreased by approximately $3.4 million year-on-year, with $29.1 million reported this year, compared to $32.1 million in October 2021. Ameristar’s October revenue was 15 $.9 million compared to $20.8 million in October 2021, down from nearly $5 million according to the IGC.
“Certainly, from our perspective, it’s been another strong month for us,” said Matt Schuffert, President of Hard Rock Casino Northern Indiana. Casino revenue increased by 12% compared to last October. “It’s good to see that in the 18 months since we opened we’re still seeing business growing in both slots and table games.”
Despite Hard Rock’s strong numbers, the rest of the market is mostly down, he said.
“Of course we will keep an eye on that,” said Schuffert.
Some of the effects of inflation can be seen in the amounts of money that players bet on things like electronic games. Approximately $134.6 million was wagered on electronic games at Ameristar Casino in October compared to $176.6 million in the same month last year. Stakes at Horseshoe Casino decreased by approximately $30 million year-over-year after posting $213.2 million in October, compared to $243.8 million in October 2021.
Hard Rock saw an increase in wagering amount in October, which was reported at $249.5 million this year, compared to $234.5 million in October 2021. Total wagering on electronic games across the three casinos was in October $597.3 million compared to a total of $654.9 million Stakes down approximately $57.6 million year-over-year.
Ameristar remains the top casino both locally and in the state for sports betting, having posted $153.3 million in bets in October, an increase of nearly $20 million from September when bets were posted, according to IGC were reported at $134 million. Total sports betting for October was $446.3 million.
Hard Rock placed $10.1 million in wagers in October, while Horseshoe placed $3 million in wagers. Hard Rock first launched its retail sports book in May and added online gaming on September 6th.
Schuffert said the casino saw nice growth in its new retail sports book in October versus September.
“Online has just started. We’re still acquiring new customers. It’s going to take time to get it to a level where I think we can get,” Schuffert said.