iGaming Introduction Is Promising for Indiana
The Spectrum Gaming Group says Indiana may have $341m-$943m of revenue over a three-year period if iGaming is introduced in the state. This forecast is available in the results of a study the IGC commissioned Spectrum earlier this year.
The exact figures will depend on the tax rate implemented in the state, which may range from 20 to 45 percent. If there is a 30% tax rate, the state may receive $588m over three years, as Spectrum suggests.
While calculating possible tax revenue for Indiana over three years, Spectrum used three methods for its estimation: spend as a percentage of gross state product, spend per adult and spend as a percentage of personal disposable income. The results in other legalized states were used for the estimates.
It was also noted that New Jersey, Michigan, and Pennsylvania, each of which generates more than $1bn GGR per annum, offer the best insights thanks to their more widespread and robust commercial gaming industries.
Spectrum also noted that, based on results from the six states where iGaming is already available, it “does not expect iGaming to negatively impact Indiana casino revenues”.
As Spectrum assumes, the addition of iGaming without live-dealer gaming will create new jobs in iGaming operations but won’t have a meaningful impact on direct casino employment. Meanwhile, according to Spectrum, if live-dealer gaming is added, hundreds of jobs could be created through the employment of dealers in purpose-built studios for this segment of iGaming.
In other news, Jewel of The Dragon by Light & Wonder was launched in Yaamava’ Resort and Casino.