Indianapolis Eyes Casino License After Results of State Study

^{Full House Resorts’ Rising Star Casino in Ohio County could be relocated after a state study identified Indianapolis as the top site for a new casino. (Photo: courtesy of Rising Star Casino)}

Officials in Indianapolis are considering a push for a casino license after a state-commissioned study found that the city’s downtown area would be the best place in Indiana to maximize revenue from a new casino.

The study, conducted by the Spectrum Gaming Group, found that relocating an existing casino to Indianapolis would generate approximately $170 million in gambling tax revenue annually and nearly $500 million in gross gaming revenue.

Full House Resorts Looking to Move Rising Star Casino

The study comes as Full House Resorts has shown interest in relocating their Rising Star Casino, which is currently located in Ohio County. The company had hoped to build a new casino in New Haven – a suburb of Fort Wayne – but the proposal died in committee after failing to gain local support.

That led to the recent study, which aimed to find the best location to maximize the potential of a relocated resort. According to a report from the Indianapolis Business Journal (IBJ), city officials have been involved in discussions about a potential casino with Indianapolis Mayor Joe Hogsett and state lawmakers for months already.

“The city will continue to engage community stakeholders and assess the viability of this potential development and will remain in conversations with the Indiana General Assembly should they decide to move this proposal forward,” a spokesperson for Mayor Hogsett said in a statement.

IBJ cited sources who said that two locations near the Indiana Convention Center were the main places where a casino site was being considered. Both locations sit between the convention center and Lucas Oil Stadium, positioned strategically to take advantage of tourism and convention traffic.

Possible Impacts to Racing Industry

While the study noted that Indianapolis would maximize gaming revenue, a casino in the city would not come without a cost. In particular, the study found that horse racing revenues could drop by $10 million to $17 million a year if a casino opened in Indianapolis. 

John Delong of the Indiana Standardbred Association commented on the potential casino addition, saying that it would "unravel decades of investment, could eliminate hundreds of jobs, and destroy a proven partnership between the horsemen, the racetracks, and the state." 

“If expansion were ever to occur, the furthest northeastern part of the state would result in the least amount of harm,” the Indiana Horsemen, a group that represents the state’s horse racing associations, said in a statement released last Thursday. “But any move closer to the existing racino markets risks eroding the very foundation of Indiana horse racing.”

Poll: Indiana Voters Oppose iGaming, Regardless of Arguments

Indiana legislators have also considered the expansion of iGaming this year. A bill that would have legalized online casinos, joining already legal online sports betting, was introduced in January before dying in committee. But a new survey claims that the idea is unpopular among Indiana voters.

On Nov. 3, the National Association Against iGaming (NAAiG) released the results of a statewide Pantheon Insight poll that found 67% of voters were against online gambling legalization. However, that number came only after respondents were told of the economic and mental health impacts of iGaming in other states. Still, even without that information, 58% of voters opposed online casino legalization, while 48% were against iGaming even after being given arguments in favor of internet gaming.

“Indiana voters understand the difference between responsible, in-person entertainment and a 24-hour online casino in every pocket,” NAAiG board member Daniel A. Reinhard said in a statement. “This poll shows that no amount of marketing spin can overcome the serious social and economic concerns that come with iGaming.”