June 14, 2022

As inflation rises, Indiana casino revenue shrinks 2nd month

This spring's decline in casino earnings largely tracks with the nation’s soaring inflation rate and the end of various federal COVID-19 relief and economic stimulus programs. - Pixabay/public domain

This spring's decline in casino earnings largely tracks with the nation’s soaring inflation rate and the end of various federal COVID-19 relief and economic stimulus programs.

Pixabay/public domain

Revenue from Indiana's casinos fell for a second consecutive month in May as inflation reached a new four-decade high and Hoosiers faced ever-higher prices for gas, food and most other goods.

Data released Friday by the Indiana Gaming Commission shows that statewide casino revenue after successful bettors were paid totaled $211.9 million for May, an 8% decrease compared with April’s $229.1 million figure.

That was the second straight month that revenue declined, coming after April's “win" revenue fell 11% from March's $235.2 million statewide casino revenue after bettors were paid, The (Northwest Indiana) Times reported.

In comparison, Indiana’s casino win grew from $209 million in March 2021 to $211.7 million in April 2021, and grew again to $220.8 million in May 2021, gaming commission records show.

This spring's decline in casino earnings largely tracks with the nation’s soaring inflation rate and the end of various federal COVID-19 relief and economic stimulus programs aimed at shoring up the post-pandemic economy.

Gaming commission records show that the Hard Rock Casino Northern Indiana in Gary remained Indiana’s top-earning casino in May with $36.3 million in win after bettors were paid. Its nearest rival, the Horseshoe Casino in Hammond, racked up $28.9 million in win.

The May win at both casinos was down compared to previous months. Hard Rock’s May win slid 5% from April and 6% from March. Horseshoe’s win last month declined 9% from April and 16% relative to March, data shows.

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