A state analysis estimates 800,000 people would visit a proposed Terre Haute casino each year, generating between $75 million and $88 million in adjusted gaming revenue.
The review by the Indiana Legislative Services Agency says about 43 percent of that revenue would come from other gaming locations.
The state’s two horse racing and casino combinations, Hoosier Park in Anderson and Indiana Grand in Shelbyville, and casinos at French Lick and Evansville would bear the brunt of the revenue shift, according to the Legislative Services Agency’s analysis.
Terre Haute and Vigo County would receive between $4.4 million and $5 million annually in wagering and riverboat admissions taxes, according to the review.
Full House Resorts, owner of the Rising Star casino, has said a satellite facility in Terre Haute would result in 1,250 direct and indirect jobs and contribute more than $26 million per year in new taxes.
Also, the company said $10 million would directly benefit Terre Haute and Vigo County.
The Full House projection came from a market study performed by a third party, said Alex Stolyar, senior vice president and chief development officer. Both studies looked only at wagering taxes and did not examine increases in income, sales and other taxes that might be generated by a Terre Haute casino.
Stolyar suggested the Legislative Services Agency may not have considered the impact of video gaming terminals in Illinois, a proposal for live dealers and table games at Hoosier Park and Indiana Grand or plans to convert the Tropicana casino in Evansville from a riverboat operation to land-based facility.
There is no indication in the agency’s report that it examined those factors.
The LSA’s analysis projects a net statewide increase in gaming taxes of $3.7 million to $4.7 million per year if the Terre Haute location is approved. However, it says wagering and admissions taxes from the Anderson and Shelbyville operations would decline by $4.5 million to $5.8 million and a state fund to support thoroughbred horse breeding would take a $900,000 hit.
Local governments in Anderson and Madison County and Shelbyville and Shelby County could lose $400,000 to $500,000 in tax revenues, the document says.
The Indiana Senate’s Public Policy Committee will conduct a hearing at 1:30 p.m. today at the Statehouse on legislation sponsored by Sen. Jon Ford, R-Terre Haute that would allow a casino in Terre Haute by moving unused gaming positions from the Rising Star Casino and Resort in Rising Sun. Committee Chairman Ron Alting, R-Lafayette, has said no vote will be taken today.
Shelbyville Mayor Tom DeBaun said he has been following the legislation and said understands that the state is under constant pressure to help keep the casino industry competitive. DeBaun said he is more concerned about the lack of live dealers at Indiana Grand than about competition from a proposed Terre Haute casino.
The Indiana Grand in Shelbyville and Hoosier Park in Anderson racinos have only electronic games. Anderson Mayor Tom Broaderick did not respond to a request for comments.
The casino industry and individual casinos have been silent about the proposed Terre Haute facility. Representatives the Casino Association of Indiana, Hoosier Park, Indiana Grand and the French Lick casino did not respond to requests for comment. A spokeswoman for the Tropicana Casino in Evansville said earlier Tropicana had no position on the legislation.
Ford also did not respond to a request for comment Tuesday. He said last week he believes his bill’s prospects are good but said, “I couldn’t put a percentage on it.”
Mayor Duke Bennett will lead a large contingent from Terre Haute to testify at today’s hearing.