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Indiana Bingo Revenue Drops

INDIANA – As reported by the Indianapolis Star: "Indiana bingo revenue plummeted by the largest amount in a decade last year as the number of charities that host the games continued to decline.

"State regulators blame the more than $23 million drop on the economy, but game operators blame the state for increasing restrictions on bingo while making it easier to gamble at riverboat casinos.

"That means fewer options for those who frequent the games, especially the elderly, and a smaller number of charities receiving money from bingo.

"…Bingo revenues fell from $583 million in the 2002 fiscal year to close to $560 million in the past fiscal year, according to the Indiana Department of Revenue.

"According to state law, all net proceeds from charity gambling, such as pull-tabs and bingo, must be given to charity.

"But the new rules, which take full effect in May, require that each bingo operation give a set percentage of its gross revenue to charity, regardless of expenses.

"…But operators have sued, saying the rules could force them to close.

"…Some bingo operators blamed Indiana's 10 riverboat casinos for the drop in revenue, saying that state limits on bingo prizes and hours make casino gambling more appealing…"

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