A newly released study, conducted to evaluate the economic impact of a proposed New Haven, Indiana casino, suggests that such a development could serve as a major financial boon to the region. According to the comprehensive analysis prepared by CBRE Investment Banking for Full House Resorts Inc., the initiative is projected to create thousands of jobs and generate an impressive amount of tax revenue annually. Full House Resorts is planning to invest $500 million into New Haven, contingent on legislative approval to transfer its casino license from the Rising Star Casino in southeastern Indiana to the new location. The scope of this investment encompasses a new hotel and casino resort that promises a variety of amenities, aimed both at attracting tourists and serving local residents.
The study indicates that the project’s initial phase alone is expected to produce $82.8 million in taxes. A substantial portion of this tax revenue, amounting to $53.5 million, would benefit the state of Indiana. Additionally, Allen County and New Haven would see significant financial gains, receiving estimated tax revenues of $0.9 million and $18.3 million, respectively. CBRE’s estimations also include $10.2 million in proceeds for other involved governing bodies and stakeholders during the first phase. Non-gaming taxes are expected to contribute $
The study indicates that the project’s initial phase alone is expected to produce $82.8 million in taxes. A substantial portion of this tax revenue, amounting to $53.5 million, would benefit the state of Indiana. Additionally, Allen County and New Haven would see significant financial gains, receiving estimated tax revenues of $0.9 million and $18.3 million, respectively. CBRE’s estimations also include $10.2 million in proceeds for other involved governing bodies and stakeholders during the first phase. Non-gaming taxes are expected to contribute $10.4 million to this total, while the projected gaming taxes amount to $72.4 million, with $65.4 million stemming from wagering tax and an additional $7 million from supplemental wagering tax. These figures underscore the potential economic uplift that the casino project could bring to the region.
Continuing from these promising financial projections, the proposed New Haven casino project is expected to create an impressive number of employment opportunities, particularly during its initial phase. Estimates suggest that the construction phase alone will generate around 2,760 jobs, while a further 2,426 jobs will be created as a result of the operational aspects of the project. This surge in employment is likely to inject vitality
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