By Michelle L. Quinn, Post-Tribune correspondent
SCHERERVILLE -- Indiana gambling officials say that while the industry has been hit by the economy, it hasn't been hit as hard as other states.
Gaming Commission Executive Director Ernest Yelton, featured speaker for the monthly Lake County Action Committee luncheon at Teibel's on Friday, said that Indiana has taken a 10 percent hit in revenue since the start of 2008 -- no surprise since the gambling industry is currently suffering as a whole. That said, $29 billion was wagered in the state during fiscal year 2007, or $55,000 every minute of every day.
That figure makes gambling the third-highest revenue generator the state has after sales tax and property tax.
Additionally, 27,537,337 people walked through the gates of the state's 11 casinos at $3 per head, Yelton said.
The new bill allowing slot machines at horse tracks, HB 1510, shouldn't detract from Northwest Indiana's casino boats, he said. And pull-tab games in bars will generate income separate from the casinos.
"The General Assembly changed the bill so (pull tabs) now fall under Alcohol and Tobacco (Commission)," he said.
"The way it's written, a 10 percent excise tax will be paid by the pull-tab suppliers that will go into the general fund, while licensing and relicensing fees will go to Alcohol and Tobacco," he said.
What has affected the state is New Buffalo, Mich.-based Four Winds Casino, and the state will do well to pay attention.
"Blue Chip is down 30 percent, so this may be a wake-up call (for the General Assembly)," Yelton said. "The state has to realize that it may have to be prepared to replace the money lost."
Indiana still isn't faring as badly as some, he said. For example, Illinois gambling revenue is down 20 percent, and both Nevada and New Jersey have been hit particularly hard.
"MGM Mirage, the second biggest gaming entity in Las Vegas, announced that it'll be firing 500 managers. That's cost cutting you never see coming out of Vegas," he said.