Local leaders confident Hoosier Park revenue will rebound
Jun. 22—ANDERSON — Harrah's Hoosier Park Racing and Casino has not been immune to slumping revenue that has beset Indiana's other casinos. But officials who oversee the collection of tax revenue from the facility are, for the most part, unconcerned.
While declining to specify exact figures, Colin Skidmore, senior vice president and general manager at Hoosier Park, said the racino has seen "softness" in gaming revenue over the past few months — a trend he attributes to logistical challenges posed by the ongoing $40 million expansion project at the facility.
"We're feeling optimistic based on June's numbers," Skidmore said. "We're definitely moving in a better direction. As far as it affects our (community) partners, there's been no questions or concerns."
According to figures provided by Anderson City Controller Doug Whitham, the city has received $1,204,798 in slot wagering funds from Hoosier Park this year through the end of May. That's down slightly from 2022 revenue through May of that year, when the figure was $1,281,923.97.
However, he noted that the amount is in line with the city's budget projection for the year, $2.915 million.
"We are very conservative in budgeting revenue so as to keep spending in line with receipts," Whitham said. "Although the distributions do not come in evenly from one month to the next, we have received approximately five-twelfths of the budgeted amount (for the year) through May 31."
At the county level, distributions from slot machine wagering fees dipped slightly in May, to $576,656.42 from April's high of $620,957.29. County auditor Rick Gardner said his office checks periodically on revenue trends in the casino industry. New casinos opening in neighboring Ohio and Kentucky, as well as planned developments in Chicago, will bear watching as well, he noted.
"It is something we watch, just like we watch all our other revenue streams," Gardner said. "We project our revenues a year in advance, usually in July or August. Right now, we don't see anything that's going to harm us."
Skidmore said wagering on racing at Hoosier Park has remained steady, and with the Breeders Crown set to return to the racetrack in the fall, he's confident about the facility's revenue trajectory in that category.
"We've seen some good handle days on that side of things," he said. "We're feeling good about that, and we know that (the expansion) will impact our operations for the better. We're heading in the right direction."
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