Hard Rock bucks July earnings dip at most other Indiana casinos
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Earnings at Northwest Indiana casinos dipped everywhere in July compared to the same month one year ago — except at Hard Rock Casino Northern Indiana.
The Gary gaming and entertainment destination last month earned $36.8 million in casino "win," or revenue after paying successful bettors, a nearly 15% increase compared to Hard Rock's July 2021 win of $32.1 million, according to data released Friday by the Indiana Gaming Commission.
In contrast, Hard Rock's biggest competitor, Horseshoe Casino in Hammond, tallied $28.8 million in win last month, down 20.3% from its July 2021 win of $36.2 million, according to the IGC.
Matt Schuffert, president of Hard Rock Casino Northern Indiana, said Hard Rock stood apart from the other Northwest Indiana casinos due in part to "impressive growth on the slot side of our business" that was "coupled with an already strong table games business."
In addition, Schuffert said, "We continue to leverage our great restaurants and high energy entertainment, not only in Hard Rock Live, but on our Hard Rock Cafe and Council Oak stages, which showcase free concerts every Friday and Saturday evening."
Data show Hard Rock led Horseshoe, and all the casinos in the state, for both slot machine and table game play in July.
In fact, the $28 million wagered on just baccarat at Hard Rock last month nearly topped the $28.6 million in total table game play at Horseshoe. Total table drop at Hard Rock last month was $51.4 million.
In East Chicago, year-over-year win plummeted 22.2% at Ameristar Casino to $17.6 million for July, compared to $22.7 million last year.
Likewise, July win at Blue Chip Casino in Michigan City totaled $11.9 million versus $13.3 million last July, a drop of 10.9%.
Indeed, besides Hard Rock, July win increased on an annual basis at just three of the state's 12 casinos, according to the IGC.
Following a rebrand and reinvestment in its Evansville property, Bally's grew its win last month by $1.9 million (13.6%), French Lick Resort earned an additional $118,000 (2.5%), and Rising Star Casino took in an extra $5,600 (0.1%).
Statewide, casino win for July was $221.1 million compared to $229.8 million in July 2021, a 3.8% decline, IGC data show.
Enthusiasm for sports wagering also remained lackluster in July, with Hoosiers risking just $206.6 million on sporting events, compared to $256.3 million in June.
In total, Indiana in July collected $30.4 million in tax revenue from slot machine and table game play, and another $2 million from settled sports wagers, according to the IGC.
The falloff in Indiana casino earnings largely tracks with the nation's high inflation rate and the availability last year of various federal COVID-19 relief and economic stimulus programs aimed at shoring up the post-pandemic economy.
However, there is lots of extra cash on the horizon after the Republican-controlled Indiana General Assembly last week approved Republican Gov. Eric Holcomb's proposal to return another share of the state's bulging budget reserves back to Hoosier taxpayers.
According to the state auditor, direct deposit of the $200 payment should begin later this month. Eligible Hoosiers set to receive paper checks should receive their $200, as well as the delayed $125 automatic taxpayer refund, in a single check sometime before the end of October.
