Study Finds Indiana Online Casinos Would Impact Land-Based
“Studies have concluded that up to 30% of new online gaming revenues are displaced from existing casino revenues.” Legalized online poker and casino gaming in Indiana would generate up to $812 million in annual revenue by the time the market matures in three years but would also put a dent in annual revenue generated at Indiana’s 13 land-based casinos and racinos, according to a fiscal impact statement by the state.
The Office of Fiscal and Management Analysis (OFMA) projected that online casinos in Indiana would gross between $406 million and $812 million annually by year three.
But OFMA also projects the baker’s dozen of land-based casinos and racinos across the state would lose revenue — between $134 million and $268 million annually — if online casinos were legalized in Indiana.
“Online casino games will displace some gambling activities occurring at brick-and-mortar casinos,” OFMA said. “Studies have concluded that up to 30% of new online gaming revenues are displaced from existing casino revenues. This figure could be higher for a saturated market like Indiana.”
As part of its analysis, OFMA said it assumed that online casino operators that decide to launch in Indiana would offer a full range of online casino games to customers. It also noted that legalization and regulation of online casino gaming “would substantially increase the participation in casino-style games.”
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