With July’s start of the fiscal year, Indiana\u2019s progressive tax rates on casino revenues reset. That\u2019s why state tax receipts fell by more than half from June\u2019s $65.7 million to $32.4 million in July, even though revenues increased monthly.<\/strong><\/p>\nFor most casinos in the state, the first $25 million in AGR is taxed at 15%. The rate increases to 20% for the next $25 million and 25% for the $25 million after that. AGR between $75 million and $150 million is taxed at 30%, with revenues between $150 million and $600 million taxed at 35%.<\/p>\n
If any casino reports more than $600 million in AGR, those revenues get taxed at 40%.<\/p>\n
Sports Betting Handle Drops, Revenue Rises<\/h2>\n
Moving to sports betting, Indiana continues to rank among the top states in the country in terms of handle.<\/p>\n
The state\u2019s sportsbooks reported a handle of $206.6 million for July. That\u2019s down nearly $50 million from June\u2019s total due to fewer sporting events during the month. However, it represents a $12.1 million increase from the July 2021 report.<\/p>\n
The sportsbooks reported a better win rate even as the handle went down. July\u2019s taxable AGR of $20.9 million was a 32.3% increase from the $15.8 million sportsbooks won in June.<\/strong><\/p>\nIndiana also received nearly $500,000 more in taxes because of the better month for the books. According to the IGC, the sports betting tax generated nearly $2 million for the state.<\/p>\n
FanDuel once again claimed the top spot among sportsbooks. Its $61.5 million handle for the month was $1.4 million better than DraftKings. The Flutter Entertainment brand reported gross revenues of $7.3 million, while DraftKings won $4.5 million.<\/p>\n","protected":false},"excerpt":{"rendered":"
Indiana\u2019s casinos enjoyed a good start to the fiscal year in July. According to the monthly data released by the Indiana Gaming Commission (IGC) on Friday, the 12 state-licensed commercial casinos reported $201.2M in taxable adjusted gross receipts (AGR) for the month. That\u2019s a 6.7% increase from June\u2019s total of $188.7 million. More importantly, it […]<\/p>\n","protected":false},"author":45,"featured_media":226384,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[62,33810],"tags":[82328],"acf":[],"yoast_head":"\n
Indiana Casino and Sportsbook Revenues Rebound in July - Casino.org<\/title>\n\n\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\t\n\n\n\n\n\n\t\n\t\n\t\n