INDIANAPOLIS (AP) — It’s been a tough year for Indiana casinos because of increased competition.
The Indianapolis Star reports ( ) gaming revenues in Indiana were down $242.5 million in Indiana the past 11 months because of increased competition from a casino opening in downtown Cincinnati and two racinos opening in Ohio. More competition is coming soon from Illinois, Kentucky, Michigan and even from inside Indiana.
That’s not just a problem for the casinos. Taxes from the casinos for the past 11 months brought in $592 million for the past 11 months, down from $687 million for the same period a year ago.
Legislators are examining the issue this summer. But Ball State University economist Mike Hicks believes the gaming money will continue to dwindle no matter what the state does.
Information from: The Indianapolis Star,