A report commissioned by the Indiana Gaming Commission and released this week projects that the Hoosier State could generate approximately $469 million in revenue in the first year of online casino gaming.
Spectrum Gaming Group, which conducted the analysis and presented it to the IGC in late July, said it “does not expect iGaming to negatively impact [brick-and-mortar] casino revenues.” There have been attempts to legalize online casino gaming in the Hoosier State the last two years, but bills have failed to advance beyond the committee stage in each session.
Six states currently offer a full suite of online casino gaming, while Nevada offers only poker. Despite its relatively modest population of 6.7 million, Indiana has been one of the top states in the nation when it comes to sports wagering handle, in large part due to a robust mobile platform that currently has 15 operators following the launch of MaximBet this week. It has generated nearly $7.7 billion in online handle since launch in October 2019, accounting for 87.6% of the state’s overall $8.8 billion wagered.
Indiana’s brick-and-mortar casinos have generated more than $200 million in win for five of the last six months, including $205.8 million in August, according to the most recent figures released by the IGC. Hard Rock Northern Indiana was the most recent venue to open last year, while Churchill Downs Inc. is preparing to build a casino near Terre Haute in Vigo County.