The Indiana Gaming Commission reported casino earnings of $203.9 million for the month of December, with a strong recovery in slot revenue propelling the Hoosier State above the $200 million mark to close out 2022.
The total was a 3.9% increase from November’s profit of $196.2 million — the first time it has fallen below $200 million since June. Slots revenue for the final month of the year was just over $165 million, up 6.5%, as 11 of the state’s 12 casinos and racinos reported profits month-over-month. They also absorbed a 5.8% month-on-month decline in table game revenue as house winnings on the Felt totaled $38.9 million.
Free play totaled $12.5 million that month, up half a million dollars from November. The state was able to collect taxes on nearly $187.2 million in adjusted revenue, up 1.5% from November.
Sports betting taxes totaled $50.3 million, with an additional $4.1 million collected through surcharges. The $54.3 million in Indiana casino taxes does not include the more than $4 million generated by the state sportsbook, which reported $42.7 million in operator revenue.
A busy month for slot machines
Five locations in Indiana recorded a win of more than $1 million in slot totals month-over-month. While Horseshoe Indianapolis wasn’t among that quintet, the Racino’s $24.1 million was enough to overtake Hard Rock Northern Indiana for the top spot in the discipline, as they averaged the best $15,497 per position.
Caesars Southern Indiana generated $2 million more in slot revenue compared to November, totaling nearly $16.3 million as average revenue per position increased 13.9% to $15,384. Hard Rock was the only other venue to surpass $20 million in slot revenue, posting $23.6 million, a 0.7% month-over-month increase. Horseshoe Hammond came in at about $25,000, down from $20 million, although that was still enough for a 4.1% increase from November.
The only venue to see a month-on-month drop in slot revenue was Belterra, but the Florence location’s drop was just $20,000 as it added more than $6.3 million for the second straight month brought in profits.
Hard Rock continues to dominate the table game scene
Hard Rock, which topped all venues with total earnings of $33.8 million, generated $10.3 million of that from its table games. It was again the only venue to hit eight figures for the fourth straight month — despite December’s total being down 15.3% from November’s $12.1 million.
A significant part of Hard Rock’s table revenue drop can be attributed to better player performance at Baccarat. While the November table decline actually increased by nearly half a million dollars to $25.2 million, again averaging more than $1 million per table, revenue fell 31.4% to $4.2 million.
Hard Rock wasn’t the only other venue with a steep month-over-month decline, as Horseshoe Hammond tumbled 13.4% to finish $1 million down from November. Baccarat revenue was down 30%, but Craps Rollers also came into play as revenue of $650,000 was down 34.5% from the previous month.
Caesars Southern Indiana fell below $5 million for the first time since September as revenue fell 9.9% to $4.8 million. The drop in baccarat earnings in Elizabeth was also pronounced, plunging 60% to $525,000 as the handle also fell 20.8%.
However, six venues reported higher revenue compared to November. The biggest jump came at Belterra, where sales nearly doubled to $1.6 million. Of that, $1.4 million came from blackjack and craps, compared to $560,000 from table games combined the previous month.
Harrah’s Hoosier Park also rallied, returning to over $2 million, a 26.1% improvement, as all five table games on offer increased month-on-month. House poker earnings increased 66% to $450,000 and baccarat winnings increased 60% to $290,000.