Indiana Worried about Keeping up with Ohio
Friday, January 15th, 2010The state of Indiana has a great gambling industry. There are casinos and people come from neighboring states to support the industry. Their hefty bankrolls bring a lot of revenue to the state’s hefty list of expenses. Due to its popularity in the state, Indiana is putting together a legislative panel to study the various aspects of gambling in the state.
One of the solutions the panel came up with was to allow riverboat casinos to move inland. The move would keep gamblers from leaving the state to go to land-based casinos in neighboring states. Senator Luke Kenley said, “As in any other industry, particularly those that cater to retail consumers, it is all about location. We think their ability to go to a better location would increase their volume and the amount of business they could do.”
Indiana is hoping that making the move will capitalize on the power of gambling and bring the revenues available to new heights. Like most post-recessionary budgets, Indiana is struggling to make ends meet. The huge deficit is weighing heavily on the minds of legislators and bringing in more gambling money is a priority on the list of issues to cover. Everyone knows that gambling is lucrative, but how to channel the money and close out competition, is a hot topic.
Moving riverboats to land does have a price however, The legislative panel found that states need to charge riverboats for the move. The study also confirmed that taxes should remain the same for riverboat casinos. Indiana lawmakers have had to revisit their gambling laws because of increased competition from neighboring states. Ohio, in particular, is going to make a big jump into the casino industry, with four casinos planned, one each in Columbus, Cleveland, Cincinnati, and Toledo. The added competition has Indiana legislators on edge and they are hoping to brace for the change. For a long time Indiana had a corner on the market of gambling, but now that Ohio is entering the market with four state-of-the-art casinos, Indiana lawmakers are worried. They know that only if they make serious changes in the market and continue to develop for customers, they may lose a great market share to Ohio.

