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Competition blamed for Ind. casino revenue drop
Indiana casino revenue
Updated: Wednesday, 26 Dec 2012, 3:59 PM EST
Published : Wednesday, 26 Dec 2012, 3:59 PM EST
INDIANAPOLIS (AP) - Officials are expecting Indiana's state government could see a big drop in casino tax revenue over the next two years because of competition from new casinos in Ohio.
The latest state revenue forecast projects the state's annual casino tax revenue to decline by about $42 million, or 9 percent, for the second year of the new two-year state budget legislators will decide during their session that starts next month.
State Senate appropriations Chairman Luke Kenley tells The Times of Munster that he doesn't believe Indiana's casino revenue will ever return to the levels seen when there was little competition from other states.
But Kenley said state lawmakers should support measures helping Indiana casinos to remain as competitive as possible.
A Cincinnati casino is expected to open in the spring.
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