ANDERSON — Gambling revenue from Indiana’s 13 casinos has dropped the past two years and faces a third year of decline in 2013.
But revenue at Hoosier Park & Casino grew at rate of 4 percent so far this year, the fastest pace in the state, said Jim Brown, CEO.
That’s about the only bright spot in the state gaming industry outlook because of competition from gaming facilities in Illinois, Michigan and now Ohio.
The reason Hoosier Park has fared so well, Brown said, is because most of its customer base comes from Indianapolis and Fort Wayne, minimizing the impact from other states.
In 2011, revenue from casino taxes was $660 million. But state budget forecasters only expect to bring in $617 million this fiscal year, and $567 million in 2013.
Only income and sales taxes brought in more revenue, which is exactly the problem, local state lawmakers said on Monday. And there’s a growing realization that legislative action may be needed to stay competitive with the three adjacent states.
Rep. Jack Lutz, R-Anderson, said he believes that the gaming industry should be treated no differently than any other.
“What drives people to casinos is the attractiveness of product,” state Sen. Tim Lanane, D-Anderson. “We have a gaming industry and we’re going to have to compete. If they don’t succeed, we don’t succeed.”
The impact legalized gaming in Ohio would have on Indiana’s was discussed in a 2009 summer study, Brown said, so the state Legislature has been educated.
“We would be fully supportive of a tax break,” Brown said, “but I don’t think that will happen.”
But providing investment credits to assist with capital improvements, and allowing Hoosier Park and Indiana Live in Shelbyville to provide live gaming tables, which would add 300 to 400 jobs, would help the competitive landscape, Brown said.
© 2024 Community Newspaper Holdings, Inc.