Declining revenue for Indiana casinos

Indiana casino revenue is down and experts are predicting that it won't get better once all four Ohio casinos are up and running.

New numbers from the American Gaming Association show a decline in gross gaming revenue of 2.5% and gaming tax revenue decrease of 3.3% compared to 2010. The Casino Association of Indiana is predicting between $200 and $300 million in annual losses once all four casinos are open.

The Horseshoe Casino Cleveland has been open a week and the Hollywood Toledo location opens on May 29th.

The Legislative Service is also predicting a major shift for Indiana, the nation's third largest gaming state in gross revenue. The service believes Indiana's 13 casinos will decrease; 30-38% in casino patrons, 14% in casino patrons,$67.1- $86.1 million in casino wagering tax losses, $9.7 million in casino wagering tax losses and $103.6 million in total gaming tax losses.

The Horseshoe Casino Cincinnati is on schedule to open in spring 2013.

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