Indiana hits $1bn tax revenue mark for first time in a decade
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The Indiana Gaming Commission published the details of the 2022 fiscal year annual report. The gambling industry has been able to reach new heights, rebounding from the COVID-19 pandemic and meeting the $1 billion tax revenue mark for the first time since 2012.
Indiana's 12-month fiscal year ended on June 30, 2022 and showed state-wide casino earnings of $2.5 billion. This was a 19% increase from the previous fiscalyear. Caesars Entertainment invested $33.7 million to expand the Horseshoe Indiana and $40 million in Harrah’s Hoosier Park.
The state collected $1.04 billion in taxes from gambling. Casinos brought in over $660 million in tax, an increase of 17.9%. Casino visitors were restricted in 2021, so fewer people visited them. An additional $31.2 million was provided in state taxes to the state from sports betting. The lottery also received a bonus of $344.4 million.
