Business

Business
6:30 am
Wed February 25, 2015

Gaming Bill Amendments Stripped As House Advocates Summer Study

House Ways and Means Chairman Tim Brown killed his own amendment on the floor Tuesday.
Credit Chris J / Flickr / https://www.flickr.com/photos/chrisjones/5993842164

Controversial changes to Indiana’s gaming tax made in a House committee were taken out of a bill on the House floor Tuesday.

An amendment in the Ways and Means committee to gaming legislation last week eliminated the state’s admissions tax, changed the wagering tax and forced communities with casinos to renegotiate local agreements with those gaming facilities. 

Those changes could have cost local communities tens of millions of dollars. 

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Business
6:00 am
Mon February 23, 2015

Statehouse Casino Debate Pits Owners Against Each Another, Neighboring States

A bill in the legislature is supported by some in the gambling industry and opposed by others.
Credit John Wardell / https://www.flickr.com/photos/johnwardell/80125882

Rising Star Casino Resort, located in the Southeastern corner of the state, was the first Indiana riverboat in the region. At its peak, the casino earned $160 million dollars per year.

But CEO Dan Lee says those days are gone.  Last year the casino only took in $60 million.

“This was built here as the first casino in the tristate area," Lee says. "It made a lot of money in those days. We’re sitting here now with it, trying to cover the payroll.”

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Business
6:00 am
Fri February 20, 2015

Ways And Means Changes Riverboat Taxing As It Passes Casino Bill

As part of the deal, casinos would no longer have to pay a $3 tax on everyone who walks in their doors, whether that person gambles or not.
Credit Chris J / Flickr / https://www.flickr.com/photos/chrisjones/5993842164

Local communities with casinos could face significant financial losses under changes made Thursday in the House Ways and Means Committee to gaming industry legislation. 

Communities where casinos are located currently get four pots of money because of those facilities: dollars from the admittance tax and the wagering tax, money from the state to supplement previous losses in the admittance tax, and money from what are called local development agreements, or L-D-As – essentially, side contracts with the casinos themselves. 

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Business
6:00 am
Wed February 18, 2015

Competing Bills Would Double Or Triple Production Limits For Indiana Beer Brewers

Sun King and 3 Floyds -- Indiana's two largest breweries -- are pushing to expand the industry in the Hoosier State.
Credit Mike / https://www.flickr.com/photos/anotherpintplease/

Sun King and other small Indiana breweries are a step closer to being allowed to make more beer.

The House Public Policy Committee passed a bill from Rep. Ed Clere (R-New Albany) that would allow craft beer brewers to triple the amount of beer they can make and sell within the state each year.   

Right now, the limit is 30,000 barrels - if a brewery makes more, it has to obtain a different permit and is no longer allowed to distribute its own beer.

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Business
3:08 pm
Thu February 12, 2015

As Some Casinos Object, Gambling Legislation Leaves Committee

Some casinos say they can't afford to move on land or have competing racinos employ live dealers.
Credit John Wardell / https://www.flickr.com/photos/johnwardell/80125882

Legislation aimed at helping Indiana’s gaming industry stem a sharp decline in revenues passed its first test in the General Assembly when a House committee approved the bill Thursday.

Rep. Tom Dermody’s (R-LaPorte) bill allows Indiana’s riverboats to move inland onto their existing footprint.  And the state’s two racetrack casinos can add table games with live dealers. 

The live table games are capped at half of the number of existing electronic table games.  And for every live table game the racinos add, they must eliminate one of the electronic ones. 

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