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Indiana Not Making As Much Money From Gambling

The state's portion of gambling revenue was down nearly 18 percent last month as Indiana's 13 casinos took advantage of a new law that allows them to reduce their tax burden. The new law allows casinos to deduct up to $5 million a year on coupons used to attract gamblers by letting them play for free. 

The tax break is intended to help Indiana casinos compete on the same basis as those in neighboring states such as Ohio and Michigan, where the coupons aren't taxed. Four new casinos have recently opened in Ohio, including one in Cincinnati, less than an hour's drive from three riverboat casinos in southeast Indiana.   Casino revenues dropped 5.8 percent from May 2012.