Casino Legislation Could be in The CardsPosted: Updated:
The publisher of Indiana Gaming Insight believes the Indiana General Assembly will attempt to stifle some of the casino industry's hard times by tweaking the existing tax structure. Ed Feigenbaum says legislation could include expanded promotional play credit and changes to the admissions tax. He says Indiana will continue to face competition from newer venues in Ohio, as well as casino-based and increased electronic gaming options in Illinois. Feigenbaum says the state has through suffered five consecutive year-over-year gaming industry revenue declines.
He says calendar year 2014 was marked by a nearly 9 percent drop-off from 2013, which he says makes it the largest decline year-to-year in the state's history.
The Indiana Gaming Commission just reported adjusted gross revenue for December. Casinos in the state took in $182.7 million, compared to $177.3 million during the same period in 2013.
Feigenbaum cautions that the increase may not be a sign of improving conditions. He says December 2013 was fraught with severe weather that stretched into early 2014.
He says revenue expectations were set very low due to the adverse conditions during that period of time.
Source: Inside INdiana Business