Indiana Gaming Commission Study Explores New Locations for Riverboat Casinos

The Indiana Gaming Commission (IGC) is initiating an important study aimed at identifying potential new markets specifically designed to benefit the states existing riverboat casinos. By focusing on these unique aquatic gaming venues, the move is intended to enhance state-specific opportunities for riverboat casinos without expanding the overall number of gaming facilities in the region.

Overview of the Proposed Study

To facilitate this endeavor, an independent research firm will be engaged to conduct a comprehensive analysis of viable gaming markets. The primary goal is not to authorize new gaming venues but rather to explore possibilities for relocating existing riverboat casinos that are currently underperforming.

The IGC aims to pinpoint the top three untapped markets that could provide adequate grounds for casinos, as legislative efforts continue in Indiana’s capital, Indianapolis. The study will focus on helping less successful riverboats, such as Rising Sun, find new opportunities to thrive.

Legislative Progress and Background

As part of this process, Senate Bill 43 has been introduced, aimed at facilitating a casino market viability assessment. This bill has made significant strides through the General Assembly, gaining Senate approval last month. Spearheaded by Senators Andy Zay (R-Huntington), Ron Alting (R-Lafayette), and Lonnie Randolph (D-East Chicago), the bill mandates an in-depth exploration of regions that currently lack casinos.

Senate Bill 43 is particularly significant as it emerged after Full House Resorts faced setbacks in relocating its Rising Star Casino Resort to New Haven. The company aims to close its less successful Rising Sun property to pursue substantial investments in Northeast Indiana, where competition from neighboring states, notably Ohio, is minimal.

Call for Bids

The IGC, which oversees a diverse array of gaming operations including riverboats, casinos, racinos, and sports gambling, is inviting proposals from market research firms until March 14 at 4 PM ET. The purpose of this solicitation is to engage a vendor capable of executing a comprehensive study focused on potential gambling operation relocations.

Firms interested in participating must include projections for annual gaming revenues and tax revenue generation within the top three identified markets, as well as the effects a casino in each area would have on existing gambling establishments. Additional considerations will focus on how these regions fare within the tourism industry and their impact on local horsemen and tribal operations.

The selected vendor will be responsible for completing its analysis by September 30, 2025.

Current Market Landscape

Importantly, Senate Bill 43 does not propose to broaden gaming horizons in Indiana, as it does not endorse the creation of new casino markets. Instead, it focuses solely on enabling existing riverboat operators to contemplate relocation to the identified three markets.

Indiana currently boasts ten riverboat gaming vessels positioned along Lake Michigan and the Ohio River. In light of the 2015 legislative amendment allowing for larger inland brick-and-mortar establishments, four of these casinos have transitioned to land-based casinos, enhancing their competitiveness with neighboring states. The casinos include:

• Bally’s Evansville
• Caesars Southern Indiana in Elizabeth
• Hard Rock Casino Northern Indiana in Gary
• French Lick Resort Casino

Moreover, the state has introduced Terre Haute, a new brick-and-mortar casino owned by Churchill Downs, which commenced operations last April amidst political controversies. Another noteworthy establishment is the Four Winds South Bend, a tribal casino managed by the Pokagon Band of Potawatomi.

Conclusion

In conclusion, the Indiana Gaming Commission is proactively working to assess and identify promising new markets for riverboat casino relocation, aiming to stimulate gaming opportunities within the state. By hiring an independent firm and pushing Senate Bill 43 forward, the IGC demonstrates its commitment to enhancing Indiana’s gambling landscape while maintaining regulatory balance.