Downtown Indianapolis topped the list of potential new casino sites, according to a survey.

A new study commissioned by the Indiana Gaming Commission identified downtown Indianapolis as the best location for a future relocated casino, forecasting nearly half a billion dollars in yearly income and more than $170 million in state tax receipts.

The conclusions, given to the State Budget Committee on Wednesday, are based on Spectrum Gaming Group’s 45-page report.

The firm was hired in response to Senate Enrolled Act 43, which was passed during the most recent legislative session and required the state to commission an independent study by November 1 to identify and evaluate the top two regions in Indiana where a casino license to operate a riverboat could be relocated.

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Joe Hoag, executive director of the Indiana Gaming Commission, told lawmakers, “The statute was very direct.” “We wanted the study to look at projected annual gaming revenues and corresponding tax revenues… the impact on other casinos, the impact on the horse racing industry, and (and) the impact assessment of a potential tribal casino in the region.”

A potential downtown casino is being studied.
According to the paper, the commission started the relocation study earlier this year “to ensure that its licensed casinos are optimally located amid a rapidly changing gaming landscape in the Midwest.”

According to Spectrum’s study, moving a casino license to a location close to downtown Indianapolis would result in an estimated $493.3 million in adjusted gross receipts annually, which is about eight times more than the state’s lowest-grossing casino. The state would also receive $170.7 million in gaming tax revenue.

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