A new study commissioned by the Indiana Gaming Commission found that relocating a casino to downtown Indianapolis could generate nearly $493 million in annual revenue and $170 million in state taxes.

The analysis, conducted by Spectrum Gaming Group and presented to the State Budget Committee, was required under Senate Enrolled Act 43 to identify top potential sites for relocating a riverboat casino license.

“The statute was very direct,” said Indiana Gaming Commission Executive Director Joe Hoag. “We wanted the study to look at projected annual gaming revenues and corresponding tax revenues … the impact on other casinos, the impact on the horse racing industry, (and) the impact assessment of a potential tribal casino in the region.”

Spectrum’s report determined that a downtown site near

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