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Senate Appropriations Chairman Luke Kenley said his committee will consider legislation that would allow riverboat casinos to move inland to fight off new competition from neighboring states.
The proposed legislation would allow riverboat casinos to move inland for a $50 million fee.
Kenley said Indiana’s casinos deserve to be protected because they bring in about $1.1 billion in annual state and local tax revenue.
The Indiana Legislative Services Agency suggested that Inland locations could draw more customers and predicts three casinos in southeastern Indiana, which rely heavily on customers from the Cincinnati area, would be hardest hit by the new competition.
In November Ohio voters approved a ballot measure to allow casinos in Cincinnati, Cleveland, Columbus and Toledo.
The Hollywood Casino, Grand Victoria Casino and Belterra Casino could potentially lose $260 million in gambling revenues in the first year after the Ohio casinos open, resulting in a $93 million cut in taxes paid to the state.
They also suggested Hoosier Park’s casino about 25 miles northeast of Indianapolis, would lose gambling customers to Toledo costing the state another $9 million.
Competition also continues to grow as Chicago, Michigan and Kentucky looks to expand gaming in their states.
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