SiGMA

Indiana hits $1bn in gambling tax revenue for the first time in a decade

Posted: Oct 07, 2022 15:48 Category: Americas , Casino , Payments , Posted by Maria Debrincat

This represented an increase of more than 8% compared to the $958.3 million in 2021. Tax revenue from casinos increased by 17.9% to nearly $660 million.

For the first time in ten years, Indiana’s gambling taxes brought in more than $1 billion during the 2022 state budget year, according to data released this week. Between July 1, 2021, and June 30, 2022, the state government received $1.04 billion in gambling-related revenue, an increase of 8% over the $958.3 million received during the 2021 fiscal year.

smallStatewide casino revenues for the whole fiscal year, which lasted 12 months and ended on June 30, 2022, were $2.5 billion. This was an increase of 19% from the prior fiscal year. Land-based casinos, particularly the Hard Rock Northern Indiana site in Gary, helped to propel growth.

Greg Small, Executive Director of the Indiana Gaming Commission commented saying “After suffering negative pandemic-related effects in FY21, the gaming industry recovered in FY 22. The industry has broken revenue records nationwide, and Indiana casinos have seen significant year-over-year increases that have boosted Indiana’s tax revenue.”

A seven-year trend of more than $1 billion in yearly gaming tax collections pouring into the state’s coffers came to an end in 2012 when Indiana’s casino-related earnings peaked at $1 billion.

At that time, the Hoosier Lottery’s revenue from before privatisation provided around $200 million annually, while higher casino tax rates frequently brought in more than $800 million annually for state needs.

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After triumphing in key locations across Asia and Europe, AGS is flying 300 top affiliates to Malta, for an all inclusive deluxe trip. The event will happen alongside SiGMA, 14-18th November, during SiGMA Europe.

Read more about the 300 Spartans here.

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