Drop In Indiana’s Casino Revenue Leads To Layoffs

Indiana's casinos have taken a hit because several casinos have opened in cities close to the state's border.

casino aztar riverboat

Photo: Lori SR (Flickr)

Casinos in Indiana like the Casino Aztar Gambling Riverboat, Evansville, have lost some of their revenue from competing casinos in adjacent states.

As many analysts predicted at the start of the year, Indiana casino revenue has shrunk this year, because of competition in other states. That is leading to layoffs for some companies.

In the last year, casinos have opened in the Chicago area, southern Michigan and Cincinnati, which are all in direct competition with Indiana’s gaming properties.

Ed Feigenbaum, who edits the newsletter Indiana Gaming Insight Editor, says from January to August of this year casino revenues dropped 1.5 percent, in part because attendance is down 1 percent.

“Through the first eight months in 2012, the casinos have brought in the 13 properties more than $1.6 billion in revenue,” he says. “They’re down by about $24.5 million almost $25 million from last year so that’s not a great deal in the huge picture, but you essentially double that by the end of the year and you’re starting to talk about some significant money.”

While casinos in the state still saw 14.5 million people come through their doors in the first eight months in the year, about 160,000 fewer people than last year.

Feigenbaum adds Hollywood Casino in Lawrenceburg, just down the Ohio River from Cincinnati, cut about 200 jobs last month because its business has suffered.

Shameka Neely

Shameka Neely, a native of Nashville, Tennessee enthusiastically joined WTIU as Senior Reporter/ InFocus Producer in the news department. She holds a Bachelor of Arts in Organizational and Corporate Communication, with a minor in Marketing and Masters of Arts Degrees' in Administrative Dynamics and Communication all from Western Kentucky University. Shameka also holds a Master of Arts degree in Journalism from Indiana University.

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