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French Lick Casino revenue up for December

By Miles Flynn | Southern Indiana Business Report

FRENCH LICK — French Lick Casino’s taxable adjusted gross revenue for December showed improvement from November and from December 2020. The figure — $6,723,455 — is up $1,217,394, or 22%, from the previous month and up $2,002,090, or 42%, from this time one year ago.

The casino is also making some headway in getting back to its pre-COVID performance, although the progress has been hit or miss. While December revenue is still down from where it was this time in 2019, the difference is smaller than what had been seen in November. Whereas the gap between this December and December 2019 stands at $845,339, or 11%, the gulf had been 22% for November. Previous gaps between this fiscal year and two years ago were 7% for October, 13% for September, 24% for August, and 9% for July — the first month of the current fiscal year.

The year-to-date AGR total for the current fiscal year — $37,508,294 — is up $9,429,992, or 34%, from where it stood this time 12 months ago. The latest total is down $6,341,929, or 14%, from where it was this time two years ago. That gap had been 15% for November. Previous gaps between this fiscal year and two years ago were 13% for October, 15% for September, 17% for August and 9% for July.

Stepping back for a look at the statewide numbers, the 13 Hoosier casinos reported a combined AGR of $197,437,992 for December. That figure is up $18,259,242, or 10%, from November and up $58,374,451, or 42%, from December 2020.

Unlike French Lick, the statewide industry as a whole is actually doing better than it was two years ago. The December figure is up $22,374,100, or 13%, for the period. The running AGR total for the current fiscal year — $1,164,785,330 — is up $274,341,969, or 31%, from a year ago and up $159,026,166, or 16%, from two years ago.

Taking a look at taxes, French Lick Casino paid $403,407 in wagering tax and $102,017 in sports wagering tax for gaming tax totals of $505,424 for December and $1,581,164 for the first six months of the current fiscal year. Statewide, the amounts are $53,649,937 in wagering tax, $2,448,381 in sports wagering tax, and $4,321,430 in the supplemental wagering tax paid by the 10 properties that had paid the old admission tax before its abolition. The combined gaming tax totals for all properties are $60,419,748 for November and $284,509,489 for the fiscal year thus far.

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