REINEKE FORD   ||   NEWS UPDATES

Competition Cuts Profits Of Indiana Casinos

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,

Comments

comments

About the Author