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Wednesday, December 14, 2016

Ind. Gov't. - More on "Study says South Bend casino will cost state $350 million"

Updating this post from earlier this morning, here, via the Lockport Union-Sun & Journal, is veteran CNHI reporter Maureen Hayden's take on the report, headed "Gaming industry sees threat in tribal casino":

INDIANAPOLIS – A regular casino windfall for state budget writers is steadily getting smaller and soon could face one of its biggest declines yet with competition from Native American gaming halls.

The coming of Four Winds casino in South Bend is setting off alarms -- and not the "jackpot" kind -- throughout the casino industry. It will be the first tribal casino in Indiana when it opens in 2018 and likely not the last.

Unlike the state's 13 existing casinos, taxed 30 cents on every dollar gambled, tribal casinos aren't obliged pay state taxes.

On Tuesday, the Gaming Association of Indiana released a dire outlook for both existing casinos and the state budget.

“The introduction of tribal gaming in South Bend will be the single most disruptive occurrence to the casino gaming industry since properties opened their doors 20 years ago,” said Matt Bell, the association's head. * * *

The Pokagon Band of Potawatomi Indians, which will operate Four Winds in South Bend, already operates three casinos in southern Michigan that pull Hoosier bettors over the border.

Longtime gaming analyst Ed Feigenbaum, publisher of Indiana Gaming Insight, calls the arrival of a tribal casino “a real game-changer.”

Unlike the existing, privately owned casinos, the Pokagon Band, considered a sovereign nation, won’t be subject to the state's taxes. And its freedom extends beyond gaming taxes.

ILB: Here is the 68-page, Dec. 9th report prepared for the Casino Ass'n of Indiana by Spectrum Gaming Association. It is titled Market Assessment: Challenges Facing Indiana’s Commercial Gaming Industry, including Planned Indian Casino in South Bend."

Posted by Marcia Oddi on December 14, 2016 10:39 AM
Posted to Indiana Government