Casino winnings are definitely lagging in Indiana, where they were down 5% last month from 2022 and 4% below where they were in 2019, thanks to Hard Rock Northern Indiana having diluted the market. Hoosier State casinos grossed $190 million. Hard Rock, no surprise, continued to reign supreme, despite being down 7% (business lost to Bally’s Casino in Chicago, perhaps?).
Horsehoe Hammond fell 9% but still notched $25 million. Ameristar East Chicago took the hardest hit, falling 11% to $14.5 million. Blue Chip was unruffled, up 2% to $11 million. Best of the downstate casinos was easily Horseshoe Indianapolis racino, flat at $24 million. Harrah’s Hoosier Park didn’t canter as fast, down 5.5% to $16 million. Caesars Southern Indiana made $18.5 million for its tribal owners, down 10%. Two smaller casinos were revenue-positive, as Belterra Resort surged 9% to $8 million and French Lick Resort leapt 14.5% to $8 million also. Bally’s Evansville (above) ceded 4.5% to $14 million, tiny Rising Star slipped 3% to $3.5 million and Hollywood Lawrenceburg dipped 5% to $13 million.
Sports betting revenues plunged 20% despite a 6% increase in wagers (to $404 million). The final tally was $41 million in operator win, thanks to high hold. FanDuel and DraftKings were a decimal point apart, each with just over $15 million. BetMGM was a distant third at $4 million. Then came Caesars Sportsbook ($3 million) and Barstool Sports ($1 million). DraftKings crushed FanDuel in market share, 42% to 31% but continues to get less bang for the wagered buck.
Receipts from August sports betting have finally been tallied in Illinois. Operators made $47 million on handle of $676 million, a measly 7% hold (but good for the punters). Business was relatively good, as handle jumped 20%. If hold worked against the books, parlays were their friend, representing 27% of bets and 52% of winings. FanDuel and DraftKings divided the market almost evenly between them, with FanDuel posting win of $17.5 million to DraftKings’ $16 million. Also-rans included BetRivers ($5 million), BetMGM ($3 million), PointsBet/Fanatics ($2.5 million), Barstool Sports ($1 million) and Caesars Sportsbook ($1 million). Promotional outlays were not disclosed.
Sports betting revenues in Arizona plummeted 15% in August, hitting $31 million on handle of $358 million, down only 1%. As players took home more moolah, the lead went to FanDuel ($13 million), then DraftKings ($10 million), trailed by BetMGM ($5 million) and Caesars Sportsbook ($2.5 million). Operators blew $9.5 million on promos, led by BetMGM.
It’s not yet Halloween and things are already looking a bit scary at Bally’s Atlantic City. Our Boardwalk correspondent explains: “I’m getting a little worried about going to the ‘grind joint’ called Bally’s, as a fight almost broke out in the elevator that I was in. Although my wife said we were going to take a break this coming weekend from casinos, today she found out we have another two nights at Bally’s. I’m trying to convince her to take day trips to Bally’s rather than stay over.” We don’t blame him.
Jottings: Congratulations to the Las Vegas Raiders, who beat the New England Patriots and broke the 20-point threshold for the first time this season. The Silver & Black had no business surrendering 17 points to a toothless Pats offense but we’re willing to overlook that … Rest in peace, Suzanne Somers. The mainstay of the Las Vegas Strip had glorious years at the then-MGM Grand (now Horseshoe Las Vegas), Riviera and Las Vegas Hilton, followed by a latter-day flameout at the Westgate Las Vegas, sad to say … In a strong indication of potential Supreme Court interest in Florida‘s Seminole Tribe compact, SCOTUS Chief Justice John Roberts enjoined the Seminoles from incepting sports betting, at least until the Interior Department can show cause as to why it should proceed. The feds have until Wednesday to respond … Philippines gaming regulator Pagcor has projected that it will get out of the casino business—five years hence. Pagcor simultaneously competes with the industry it overseas, a conflict of interest that American interests would never tolerate.
Quote of the Day: “Unlike during the Patriots’ glory years, now [Bill] Belichick is just a man pulling levers that don’t work anymore.”—The Boston Globe, piling on as Belichik’s New England Patriots fell to the Las Vegas Raiders, 21-17.