Revenues dropped at all five Northwest Indiana casinos in June, falling to $85.67 million from $91.89 million in June 2012, according to the monthly revenue report issued Tuesday by the Indiana Gaming Commission.
Majestic Star I in Gary had the largest drop of 9.9 percent, while the smallest drop was at Ameristar Casino in East Chicago, where revenue declined 5.1 percent from the year-ago month, according to the gaming commission report.
Horseshoe General Manager Dan Nita said casinos are now beginning to analyze what effect the introduction of video gaming in thousands of Illinois bars may be having on casino revenues here.
"It will impact Illinois casinos more than us, but it will affect casinos in Indiana as well," Nita said.
The Illinois Gaming Board reported about $23 million in revenues for video gaming in the state in the month of May. Nita pointed out that was more revenue than garnered by any single casino in Northwest Indiana, excepting Horseshoe.
June was also the last month for casinos to take advantage of a $2.5 million per casino tax deduction offered for the last two months of the last fiscal year for free slot play offered at the gaming emporiums. That was a special provision of legislation enacted in the last session of the General Assembly that will allow casinos to deduct up to $5 million in free slot play for fiscal years going forward.
Both Majestic Star casinos and Blue Chip had already cashed in their entire stash of chips for the $2.5 million in deductions in May. Horseshoe claimed $642,620 more in deductions in June to reach the $2.5 million maximum and Ameristar cleared its account by claiming a $1.67 million deduction for free play.
Horseshoe Casino had total revenues of $38.88 million in June, a 6.1 percent drop from June of 2012, according to the Indiana Gaming Commision June revenue report. Majestic Star II took in $7.18 million, a 6.5 percent drop from the year-ago month. Blue Chip Casino in Michigan City took in $13.44 million, an 8.9 percent drop from one year ago.