Indiana's Casino Industry: How a Riverboat State Became the Midwest's Quiet #1

Indiana has 13 commercial casinos generating $2.6B annually — the 4th-largest commercial gaming market in the US, behind only Nevada, Pennsylvania, and Atlantic City. Most Americans don't know.

Indiana is the casino market most Americans don't know is huge. With $2.6B in annual commercial gaming revenue, it's the 4th-largest market in the country — behind only Nevada, Pennsylvania, and Atlantic City. The 13 properties draw heavily from Chicago, Cincinnati, and Louisville.

The largest casino in Indiana by revenue. Located in Hammond, IN — directly on Lake Michigan, ~30 minutes from downtown Chicago.

• ~$420M annual revenue
• 100,000 sqft casino floor
• ~3,000 slot machines
• 100+ table games
• Caesars Rewards integrated

Horseshoe Hammond's customer base is heavily Chicago-area. Until the Bally's Chicago opens (see Chicago casinos), Horseshoe Hammond is the closest major casino to downtown Chicago.

Opened May 2021 in Gary, IN. The newest major Indiana property. Operated by Spectacle Entertainment under Hard Rock Hotel & Casino license.

• ~$450M annual revenue (yes, larger than Horseshoe Hammond)
• 200,000 sqft casino floor
• ~2,200 slot machines
• 80+ table games

The property is on the I-80/I-94 corridor between Chicago and Indianapolis, capturing northern Indiana traffic plus Chicago South Side and Calumet players. Hard Rock Unity loyalty integrated.

Owned by Boyd Gaming. Located in Florence, IN — southeastern Indiana, ~25 minutes from Cincinnati. 608 hotel rooms, 18-hole golf course.

The destination resort property of Indiana. Captures Cincinnati and northern Kentucky players. Boyd Connected loyalty.

Owned by Penn Entertainment. Located in Lawrenceburg, IN — also near Cincinnati. ~295 hotel rooms.

mychoice rewards integrated. Slightly smaller than Belterra but still a major property in southeastern Indiana.

• Caesars Southern Indiana (Elizabeth, IN): ~$350M annual, near Louisville. Caesars Rewards integrated.
• Indiana Grand (Shelbyville, near Indianapolis): horse racing + slots/table games. Caesars Rewards integrated.
• Hoosier Park Racing & Casino (Anderson, near Indianapolis): horse racing + casino.
• Tropicana Evansville (Evansville): on the Ohio River.
• Blue Chip Casino (Michigan City): on Lake Michigan.
• French Lick Resort & Casino: historic resort in southern Indiana.
• Rising Star Casino Resort: smaller property.
• Majestic Star (Gary): merged into the Hard Rock Northern Indiana operation in 2021.

Three factors:

1. Geography. Indiana borders Illinois (Chicago), Ohio (Cincinnati), Kentucky (Louisville), and Michigan. Each border captures cross-state traffic.

1. 2019 legislation. Indiana legalized full table games in 2019 (eliminating the older riverboat-technicality), legalized sports betting, and authorized online sports betting. The combination drove revenue growth.

1. Caesars / Penn / Boyd presence. All three major regional operators have Indiana properties. The competition has driven property quality and comp programs.

For Caesars Rewards regulars in the Midwest: Horseshoe Hammond, Caesars Southern Indiana, Hoosier Park, Indiana Grand all earn tier credits in your network.

For Boyd Connected regulars: Belterra Casino Resort.

For Penn / mychoice regulars: Hollywood Casino Lawrenceburg.

For Hard Rock Unity regulars: Hard Rock Casino Northern Indiana.

For destination weekend trips: Belterra Casino Resort (golf, hotel, full amenities).

For Chicago-area visits: Horseshoe Hammond or (when open) the new Bally's Chicago.

For our broader Midwest takes: Detroit, Chicago, Iowa.

Topics

• indiana
• riverboats
• regional

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