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best casinos near indianapolis State officials were betting that Indiana gaming revenues would take a major hit when a downtown Cincinnati casino and two racinos opened in Ohio last year.
Many gamblers who once flooded southeast Indiana's three riverboat casinos spent their money in Ohio during the past year.
To stay in the game, Indiana's riverboat casino owners have made modest investments in their properties and boosted marketing.
But more competition is headed their way from Illinois, Kentucky and Michigan.
Competition has changed the game forever.
And it has proven to be a tremendous negative hit to the state of Indiana's bottom line.
Gaming lobbyists plan to ask the General Assembly for a hand in 2015, likely through a mix of tax breaks and more gaming options.
Legislators, some who prefer tax breaks and some who prefer an expansion of gambling, are examining the issue this summer and appear poised to help.
But at least one economist wonders if it's time to let gaming houses cover their own bets.
The 400,000-square-foot new facility features 2,000 slot machines, 85 table games, an events center and several restaurants.
The effect in Indiana was immediate and the drop in revenues sharp.
In December, one racino — a horsetrack with gambling machines — opened near Cincinnati and another in Dayton, dealing Hoosier casinos https://gothailand.info/best/best-poker-apps-for-ipad-real-money.html blow.
The next closest casinos to Cincinnati, the Rising Star and Belterra, took 30 and 23 percent hits to revenue, respectively.
The reason is clear.
This May, for the first time since Indiana riverboat casinos opened near Cincinnati in 1996, more metro area gambling dollars canada best casino bonus spent in Ohio than in Indiana, according to an analysis conducted by the Cincinnati Enquirer.
The three nearby Indiana riverboats took in 46 percent of gambling dollars in the region, down 18 percentage points from a year ago.
To respond, the casinos have increased advertising in Ohio and southeast Indiana, Smith said.
They've also tried to freshen up their aging properties.
But revenues continue to plunge month by month.
And Indiana's gambling problem goes further than Ohio.
When gambling came to Indiana in the 1990s, the state chose to bunch the majority of its riverboat casinos around major cities in other states, namely Chicago, Louisville and Cincinnati.
Now, Illinois is adding 15,000 virtual gaming machines at local bars and taverns, a concern especially for the four riverboats in Each Chicago, Gary and Hammond.
In Kentucky, horse tracks have been permitted to install gaming machines, a concern especially for the Horseshoe Southern Indiana and the Tropicana along the border.
In Michigan, the Four Winds Best online mobile slots sites opened in 2007 near the border with Indiana and has since opened best casinos near indianapolis satellite locations.
They compete with Indiana's Blue Chip Casino in Michigan City.
And more competition could come from within the state.
The racinos in Anderson and Shelbyville — the only gambling operations in Indiana to post revenue increases in the last 11 months — want to add live gaming.
And two years ago, the Pokagon Band of the Potawatomi Indians began the process to open a casino near South Bend.
State officials believe they can rely on other forms of revenue, including income and sales taxes.
And local governments near casinos rely on casino revenue for basic city, county learn more here town services such as fire protection, roadwork and infrastructure.
Dillon Dorrell, a member of Ohio County's County council, estimates the county's income from gaming will drop 50 percent.
Lawrenceburg Clerk-Treasurer Jackie Stutz anticipates the revenue will shrink even more dramatically this year.
In Switzerland County, County Council President Mike Jones said he's concerned declining revenues will spur the casino to alter its deal with lcoal governments.
The Belterra, he said, is the county's largest private employer, and the money is vital to a community.
Gambling lobbyists, the casinos, racinos and local officials are asking their state lawmakers to ante up again.
Last year, they asked for help in anticipation of the Ohio expansion but lost.
The riverboats wanted to build large, visitor-friendly casinos on land.
The racinos in Central Indiana, which now have gambling machines, wanted to offer live gaming.
Smith, the casino association chief and a former state lawmaker when the legislature approved gambling in the 1990s, said some of the riverboats argue that best casinos near indianapolis, land-based casinos will draw back out-of-state customers and lure more Hoosiers.
The confined space on the water prevents local riverboat casinos from fully competing with newer, fancier facilities across the state line.
Powerful Republicans disagree on how — though perhaps not if — they should help.
House Speaker Brian Bosma, R-Indianapolis, noted "We have to find the right balance, what's right for Hoosiers and what's right for the industry.
Allowing live gambling at racinos, he thinks, would just draw Central Indiana customers from Indiana's casinos.
Senate Appropriations Chairman Luke Kenley, R-Noblesville, is worried about continued declining revenue projections in gaming, — three significant state budget funding sources.
He appears to be in no mood for another giveback.
Kenley and Senate Public Policy Committee Chairman Ron Alting, Best casinos near indianapolis, believe letting riverboat casinos — which don't actually sail — move to land would be a better solution.
But some outside the Statehouse are skeptical the state can — or should — do anything.
After all, some Ohio and Indiana casinos are owned by the same companies.
Others wonder why the government should prop up any of them.
Mike Hicks, a Ball State University economist, believes gambling revenues are likely to continue to decline no matter what the state does, saying the economy remains sluggish, the competition has increased, and the novelty of gambling may be wearing off in Indiana.
The legislature ought not to be insulating any company from competitive pressures.
Many gamblers who once flooded southeast Indiana's three riverboat casinos spent their money in Ohio during the past year.
To stay in the game, Indiana's riverboat casino owners have made modest investments in their properties and boosted marketing.
But more competition is headed their way from Illinois, Kentucky best casinos near indianapolis Michigan.
Competition has changed the game forever.
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