This week, a proposal that could reshape the landscape of Indiana’s casinos gained momentum in the Senate, as discussions continue on whether the state should move an existing license or issue a new one.
The Senate Public Policy Committee advanced House Bill 1038 to the Senate Appropriations Committee without incorporating any of the amendments proposed during the hearing. As it was approved by the House earlier this month, the bill seeks to transfer the license of Indiana’s least profitable casino located in Rising Sun, adjacent to the Ohio River.
During the committee’s discussions, Chair Ron Alting, R-Lafayette, proposed potential revisions that could significantly change the original House proposal. One possibility is to issue a new casino license instead of moving the existing Rising Sun license.
Other suggestions included restricting eligible locations to Allen, DeKalb, and Steuben counties in northeastern Indiana by excluding Wayne County from the options. An additional proposal would mandate that any county wishing to host a casino must hold referendums to gain voter approval.
Alting characterized the legislation as “a work in progress”, mentioning that Senate Republican leaders will consider potential amendments. For the moment, the bill remains in its original form as approved by the House while it transitions to the Appropriations Committee, which has a deadline of February 19 to move it to the full Senate.
The Rising Sun casino currently reports approximately $42 million in annual revenue and contributed $3.6 million in gaming taxes to the state last year. A state-sponsored analysis released in October estimated that a casino in Allen County could generate around $204 million annually in total revenue and $61 million in state taxes.
This report cited the Richmond area in Wayne County as the third most promising site for a new casino, following downtown Indianapolis and the Fort Wayne area. At the committee meeting, Melissa Vance, president and CEO of the Wayne County Area Chamber of Commerce, noted extensive local backing for pursuing a casino initiative.
“We’ve united a truly remarkable coalition of people who are in agreement,” she stated, as reported by the Indiana Capital Chronicle. “I’m sure you’re aware how rare it is for everyone to come together so swiftly, which reflects the passion and interest involved.”
The chosen casino operator, as vetted by the Indiana Gaming Commission, would be obligated to invest a minimum of $500 million in the proposed project and associated amenities within five years of opening, as per the bill’s requirements.
Advocates from northeastern Indiana also provided testimony supporting a casino in that area. Nonetheless, some residents in Allen County voiced concerns regarding issues like gambling addiction, crime, and a potential decrease in property values nearby.
The Rising Sun property, specifically the Rising Star Casino operated by Full House Resorts, remains at the heart of the discussion. Local officials have raised concerns regarding the compensation that would be due if the license is transferred, as the casino serves as the largest employer in the community and a primary source of tax revenue.