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NYtimes article

Last edit: jimmybond on Friday, 25th January 2013 6:51 pm
Last response by Skywise 26th January 11:24am

Interesting article a couple days ago from the NYTimes about the casino industry in Indiana. Might be relevant to some board readers as locals.

Fun fact from article: "The Horseshoe’s owner, Caesars Entertainment, considers Hammond [Indiana] its second highest grossing location, next to Caesars Palace in Las Vegas. "

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 Skywise responded on Saturday, 26th January 2013

Being a citizen of the great state of Indiana I'm a little surprised that we're considered the third in the US. Although in retrospect maybe I shouldn't... There's at least 5 riverboat casinos on the southern border and 3 or 4 on the northern border and 2 large "racinos" in state (no live table gaming - computerized only with human "dealers" pushing buttons to start the game) That's almost as many on the strip.

It's the "racinos" (originally horse racing tracks that were expanded to include some casino activity) that are driving the need for legislation here. Because of the lack of real dealers and real table games, which are legal in the surrounding states, the tourist trade has dropped off tremendously and both racinos have gone bankrupt. One emerged from bankruptcy last year and then bought the other one. The new laws will legalize table gaming for racinos and cut back on the taxes and licensing fees the state charges the casinos to operate overall (which passed unanimously in the legislative committee and should come up for a vote in a month or two under the normal process). The current analysis figures a drop of around $200 million in tax revenue from that which the opponents are complaining about but the state is hoping that'll be countered by more gambling or at least keeping the industry viable.

Although some of this is the corporations fault - I used to spend more here than I did in Vegas but got far fewer comps and won far, far less... They've tightened up the slots at the racinos so much that they're not even half full on weekends anymore.