February gaming numbers are starting to roll in for states throughout the country, and the Indiana report just came out. The report from the Indiana Gaming Commission shows that casino revenue had dropped over the last 12 months, while some of the other gaming options are doing well.
Indiana is still a state that does not offer online casino gaming, even though there are number of states across the country that do. Lawmakers in Indiana have introduced bills to legalize online casinos, but nothing seems imminent at this time.
Online sportsbooks did perform extremely well in February, and that could give those in favor of online casinos more ammunition to get a deal done. Here is a look at this report as there can be a lot to digest in the monthly report.
Slots Produce Decrease in Revenue
Slot machines continue to be extremely popular throughout the state of Indiana, but players enjoyed more success than usual on those machines. That is where the biggest decline came from in the report, but that is something that can bounce back in a big way.
Play at the slot machines accounted for $162.6 million in revenue last month, and that made up a huge chunk of the $195.5 million overall. While that might seem like a good number, slot revenue came in over $170 million a year ago.
There are 13 brick-and-mortar casinos located throughout the state of Indiana, and slot revenue was not down in all of those locations. Fortunately, some of the other gaming options were able to soften the blow brought on by a lack of slot revenue.
Table games brought in nearly $37 million in revenue last month, and the physical sportsbooks brought in nearly $4 million. It was the physical sportsbooks that saw the biggest increase as the jump was nearly 100%.
Indiana was one of the first states to legalize and launch sports betting as this gaming option has been around since September 2019. Even though players can make bets at the casinos, most of those wagers continue to come in online.
Online Sportsbooks Cash In
Online sportsbooks posted $34 million in taxable revenue last month, and that was a huge increase over the same period a year ago. Even though there was an extra day last month, that doesn’t explain the growth of nearly 18.7%.
Since the physical sportsbooks are seeing some growth as well, this could end up being a huge year for the sports betting industry in the state. There are just four months remaining in the current fiscal year, and sports betting is set to shatter the previous record.
March is expected to be a huge month for the sports betting industry in the state as betting on college sports teams is legal in the Hoosier State. The Purdue Boilermakers are one of the favorites to win the tournament on the men’s side of things, and there are some great womens basketball teams in the state.
