Hoosier State casinos were raking it in hand over fist last month, as casino receipts shot 14.5% upward. The $192 million gross included $7 million from still-novel table games at Indiana Grand and Hoosier
Downs. Yes, there was an extra weekend day but that hardly explains the boom. It’s certainly taken JP Morgan analyst Joseph Greff by surprise, as he reports double-digit increases at properties he had forecast would be flat. Caesars Entertainment dominated the state, whether in terms of dollars—$37 million (+19%) at Horseshoe Hammond—or percentage increase, as in 51.5% at new Caesars Southern Indiana, grossing $21 million. The two Caesars racinos raked in $25 million (Indiana Grand) and $18 million (Hoosier Downs), increases of 17% and 21% respectively. Also flexing some muscle was Belterra Resort, jumping 36% to $9 million, while Tropicana Evansville made 12% more for Eldorado Resorts, banking $13.5 million.
Elsewhere in the southern tier, Rising Sun slipped 8% to $3.5 million, Hollywood Lawrenceburg nudged up 1.5% to $14.5 million and French Lick Resort slipped 8% to $7 million. Up north, the Majestic Star boats just couldn’t compete, down 3.5% and 13.5%, respectively, for grosses of $7 million and $4.5 million. Blue Chip was up 5% to $12 million and Ameristar East Chicago gained 9% to $18.5 million. Sports betting produced $187 million in handle and $11 million in
revenue. $90 million of the total handle was basketball-related. “The Super Bowl was the single most significant event in February, but Indiana has done exceptionally well with basketball,” said Jessica Welman, analyst for PlayIndiana.com. “That balance is helping Indiana avoid a post-football slump, which is common in jurisdictions such as Nevada.” The Hoosier State also doesn’t require in-person registration for mobile wagering … a sizable attraction for those living in neighboring states. “Indiana’s relationship with out-of-state bettors takes many forms, ranging from those who cross the border to make bets at nearby land-based sportsbooks to those who hop over the state border in cars and place bets by phone,” added Welman, whose agency calculates that 78% of Indiana sports wagering is being done online.
One of the states where sports betting is stalled is Ohio, which nonetheless saw gambling revenues spike 10.5% for a $171.5 million gross last month. As usual, MGM Northfield Park led the state with $22.5 million, an 11% increase. Jack Cleveland grossed $19 million, up 10%,
Hard Rock Cincinnati overcame some passing doldrums to record $20 million, a 12% gain, Hollywood Toledo was up 6% to $17 million and Hollywood Columbus recorded $20 million, a 5.5% uptick. Even the least impressive of the racinos, Belterra Park ($6.5 million) was up 8%. Churchill Downs‘ joint venture, Miami Valley Gaming, gained 16% to $12.5 million, Jack Thistledown jumped 16% to $12.5 million and Scioto Downs vaulted 16% to $16 million. Hollywood Dayton‘s $10.5 million was a 13% gain while Hollywood Mahoning Valley was up 9.5% to $11 million.
Missouri was up 12% to $150 million, led by strong results out of Kansas City. Slots raked in $128.5 million, up 12.5%, while tables yielded $21.5 million, a 6% gain. Boyd Gaming‘s Ameristar St. Charles
was the top performer in the state, making $21 million (up 2%), closely followed by Hollywood Casino St. Louis‘ $20.5 million (+11%). Eldorado finally had a good month at Lumiere Place, jumping 15% to $14 million, while Penn National Gaming banked $19 million at River City, up 8%. Down south, Century Casinos‘ acquisitions in Cape Girardeau ($6 million) and Caruthersville ($3.5 million), were up 17% and 21% respectively.
Ameristar Kansas City led that market with $17 million, leaping 14%. Harrah’s North Kansas City took second place with $15 million and an impressive 25.5% gain. Argosy Riverside was close behind with $14 million (up 10.5%), while Isle of Capri‘s $6 million was good for a 12% uplift.
Briefly stopping in Iowa, the Hawkeye State had a boffo February, catapulting 24% to $129 million. Leaving most of the small operators aside, we note that while Prairie Meadows racino led the state with $18 million (+17%), Horseshoe Casino was nipping at its heels with $16 million, a
39% surge. Harrah’s Council Bluffs gained 27% to $6.5 million. Eldorado’s Isle Casino Waterloo was up 22% to $7.5 million, while Eldorado also banked $5.5 million (+8%) at Isle of Capri Bettendorf. Ameristar Council Bluffs gained 18.5% to gross $14 million for Penn, while Boyd was up 23.5% at Diamond Jo Worth ($6.5 million) and 27% ($6 million) at original-flavor Diamond Jo. And Hard Rock Sioux City ($7.5 million, +22%) continues to make locals forget there was ever a Penn-branded riverboat in Sioux City.
