Indiana Casinos Earn $170.8 Million in September, Baccarat Overtakes Blackjack as Top Game

Indiana commercial casinos generated $170.8 million in September, a 5% year-on-year decrease from $179.8 million generated the year prior. 

Revenue from table games in the state remained stable, with a 0.5% year-on-year increase from $30.3 million to $30.5 million. However, slots experienced a revenue decrease of 4.7%, from $163.8 million to $156.2 million. 

The results are in for the most popular table games in the 2025 fiscal year, with baccarat topping the charts for the third time in the past four years, and statistics have also shown where Indiana slot players are most likely to get their bets back. 

More Losses Than Wins in September 

The latest report from the Indiana Gaming Commission shows that of the 13 casinos in the state, seven saw year-on-year losses, three had revenue remain stable, while only two saw revenue increase. 

While it was the lowest-earning casino in September, the Rising Star Casino saw the most significant year-on-year revenue increase of 12.7%. Despite table game revenue falling 17.1% year-over-year, slot revenue rose 13.7%.

The only other casino to see gains was Caesars Southern Indiana, which saw profits rise 4.9% year-on-year. Slots revenue remained stable, with a 1.1% increase, and table games saw a rise of 3.8%. 

The biggest loser in September was the Hard Rock Casino Northern Indiana. Despite being the highest earning casino in the state, it saw a double-digit loss of 15.5%, with slots seeing revenue decrease 13.1% and table games revenue falling 12.8%. 

Other double-digit declines were seen from both the Ameristar Casino and the Belterra Casino, losing 10.7% and 14.5% respectively. 

Additionally, revenue remained stable at three casinos in the state: the Terre Haute Casino, the Blue Chip Casino, and the French Lick Resort. 

Blackjack Busted from Top Spot in Indiana as Baccarat Takes Its Place 

A new report from the Indiana Gaming Commission shows Baccarat has continued its winning streak of being the most popular game in the state, and has once again displaced Blackjack for the third time in the past four years. 

Statistics show that between July 2024 and June 2025, Baccarat play increased by 1.6%, earning $639.3 million, while Blackjack play decreased by 2.2%, with wagers totaling $634.9 million. 

After replacing the Majestic Star Casinos on Lake Michigan in 2021, the Hard Rock Casino Northern Indiana has been considered a main reason for its growth. Guests' interest in baccarat has increased, with 55% of all baccarat wagers placed in the Lake Michigan casino. 

However, while Baccarat may have received more wagers, Blackjack generated the highest revenue, totaling $137.3 million, compared to the $111 million produced by Baccarat. 

Additionally, the report showed that for slot machines in the same fiscal year, had a much higher payout rate, averaging a rate of 90.2% returned to players compared to baccarat players receiving 82.7% and blackjack players receiving 78.4%. 

Casinos with the highest return to player rates included the Blue Chip Casino, with a rate of 91.3% and the Ameristar Casino, with 90.3%. However, the lowest rate of 89.5% from the Horseshoe Indianapolis.