Indiana: Horseshoe Loses Top Spot to New Hard Rock Casino for the First Time; the state sets a handful of sports betting records
Northern Indiana Hard Rock to Gary topped October casino revenue in the state at $32.3 million, with Horseshoe Hammond taking second place with $31.5 million in casino winningsaccording to official data released on Friday by the Indiana Gaming Commission (IGC)which also reported that sports betting volumes nearly doubled year-over-year.
The figures are significant since for the first time in more than a decade, Horseshoe ranked other than #1 in the Northwest Indiana market. Horseshoe lost their peak sport after just five months of competing with Hard Rock.
When combined, The four casinos in northwest Indiana reported revenue of $97.3 million in October, about 47% more than a year ago. In 2020, Ameristar in East Chicago, Blue Chip in Michigan CityHard Rock Northern Indiana in Gary and Horseshoe Hammond recorded $66.4 million.
“We couldn’t be happier with our results so far. Being the state’s top revenue producer in such a short time is truly a testament to our team, our ownership and the Hard Rock brand,” said Matt Schuffert, president of Northern Indiana’s Hard Rock Casino, according to The Northwest Indiana Era.
In terms of table game bets, Hard Rock attracted $44.2 million, while Horseshoe posted $32.9 million.. Baccarat was the top game at both sites, with Hard Rock posting $24.1 million in baccarat games versus $12.6 million at Horseshoe Hammond.
Horseshoe fared better in slots play than Hard Rock: $243.8 million vs. $234.5 million; and a gain of $24.8 million from $22.8 million. This is attributed to the fact that Horseshoe has 34% more machines than Hard Rock. However, on a per-machine basis, Hard Rock placed above Horseshoe. Schuffert said Hard Rock will be adding more slots “throughout late 2021,” with “over 150 more games” on the way.
Discuss monthly results, Shannon McKellar, vice president of marketing for Horseshoe, described October as another high volume month for tables and slots.. She further noted that the casino still retains the top spot in slots and the venue saw strong attendance during the month, thanks in part to five sold-out or nearly sold-out concerts.
Hard Rock also plans to leverage live entertainment and shows as key revenue drivers.. According to Schuffert, the casino could maintain its leadership by providing a superior entertainment experience, including more frequent performances at Hard Rock Live, which opened this month with a sold-out show.
Rounding out the Northwest Indiana market, Ameristar ranked third with $20.7 million in revenue, up 10.6% from the $18.8 million posted in 2020. During that At the time, Blue Chip made $12.6 million in revenue, up 23.8% from $10.2 million last October..
In terms of sports betting, Indiana posted a record $461 million in the past month, becoming the fifth state with a month over $450 million.. Additionally, he has amassed over $5 billion in lifetime bets. Sports betting in Indiana has now broke the state record for betting volume for the second month in a row.
The surge in betting partly responds to the first full month of football of the year. The NBA season opener and baseball playoffs also gave sportsbooks a better grip, which far surpassed the previous record high of $355.4 million.
October handle was up a massive 99.7% from $230.9 million in October 2020. Daily bets increased to $14.9 million for the 31 days of the month, from $11.8 million per day in September, according to Play Indiana.
Despite the rise, gross revenue fell 16.4% to $27.8 million from the record high of $33.3 million set in September. Online betting accounted for the bulk of the betting handful, at $411.9 million, 89.3% of the total. DraftKings led online operations with a handful of $150.7 million.
In terms of retail sports betting, the total handle was $49.2 million, down from $35.3 million in September, with Hollywood Lawrenceburg leading to $15.6 million in bets. Indiana could see 15 licensees by the end of the year, as sportsbooks Bally Bet, Fubo and SBK plan to enter the market.