Indiana’s October Sports Wagering Handle Sets Record; Hard Rock Best Casino Annual Gross Revenue

In October, sports wagering in Indiana enjoyed a solid month as the state’s licensed sportsbook registered a $461.1 million handle. That is according to figures released by the Indiana Gaming Commission (IGC) on Friday.

Indiana not only broke the $400 million monthly handle for the first time, but the state also eclipsed the previous record handle set in September by almost $105 million.

As usual, online wagering played a significant role in the market. The 12 active, licensed applications earned $412 million in bets, 89.3% of the activity.

On the brick-and-mortar side, sportsbooks near the borders with non-sports wagering state enjoyed huge months, too. The nearest commercial sportsbook to Cincinnati and Northern Kentucky, Hollywood Lawrenceburg, registered a retail handle of $15.6 million.

Down the Ohio River, Caesars Southern Indiana and the Caesars Entertainment’s Winner Circle Off-Track Betting Parlor Clarksville sportsbook, both across the river from Louisville, combined earned more than $8 million in wagers.

However, the record handle did not lead to record revenues. In October, all Indiana sportsbooks took in gross revenues of $22.7 million. That led to the state taking in $2.6 million in taxes.

That is down more than $6 million from September when the sportsbook won $33.9 million and offered the $3.2 million in tax revenue.

DraftKings still champion in Indiana

Once again, DraftKings tops in Indiana, as the online giant registered a handle of $150.7 million in October. Nevertheless, FanDuel reigned supreme $100 million for the first time in the state, as the operator took in $115.6 million in wagers, with $113.3 million collected online.

Caesar’s sportsbook registered a volume handle of $61.9. Almost two-thirds of what was collected through its online application, but 21.6 million was gambled at its network of commercial sportsbooks across the state. Indiana BetMGM users wagered $47.7 on its mobile app.

Out of the top four, FanDuel was the biggest winner, registering gross revenues of $9.6 million. Of that, $9.2 million was won off online bets. DraftKings registered gross revenues of $7.8 million.

Caesar’s revenues were $1.9 million, although only $435,658 was won from online wagers.

At BetMGM, the MGM Resorts International-Entain joint business won $3.5 million from its clients.

New casino leads in revenue

According to the IGC monthly report, Indiana’s casinos registered total altered gross revenues of $201.9 million for October, a $7.2 million increase from September’s revenues.

And for the first time, Hard Rock Northern Indiana was the state’s top-grossing casino. The Gary casino, which launched six months ago, registered altered gross revenues of almost $31 million. Horseshoe Hammond, the casino that sits near the Illinois border and has been the leading casino in the state for years, registered an Annual Gross Revenue of $29.5 million.

The solid play at its table games is what helped put Hard Rock over the top in October. Despite only having 80 table games, compared to Horseshoe’s 115, the Seminole Tribe of Florida-owned casino collected $9.7 million at its tables. That is $3 million more than its competitor Hammond.

The Shelbyville racino, Indiana Grand, located 30 minutes southeast of Indianapolis, registered revenues of $26.2 million.

Caesars Southern Indiana ranked fourth, and the whole month under new ownership was a great one. The casino, currently run by the Eastern Band of Cherokee Indians, registered gross revenues of $20.7 million.

EBCI Holdings, the tribe’s commercial gaming board, took ownership of the casino in September. That is after the Indiana Gaming Commission approved the $250 million deal from Caesars Entertainment in August. The sale was first announced last December. Regardless of who holds the license, very little has changed.

Last Updated on by Ryan

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