Steuben County Casino Proposal Targets Walters Lake With $500 Million Resort Plan

Indiana property developer Mark Hansberger has put forward a $500 million lakeside casino resort on Walters Lake in Steuben County, and the plan features a 400-room hotel along with restaurants, entertainment venues, and family attractions designed to draw year-round visitors to the region known for its 101 lakes.

The proposal arrives after Indiana lawmakers passed House Bill 1038 earlier in 2026, which authorized a new northeastern gaming license, yet the measure requires local voter approval through a November referendum before the Indiana Gaming Commission can review and select from any bids submitted for that license.

Project Components and Location Details

Hansberger's development envisions a comprehensive resort that combines gaming with hospitality and recreational offerings, and the lakeside setting aims to capitalize on existing tourism traffic near Pokagon State Park while creating new draws that keep visitors in the area longer than seasonal visits typically allow.

Planners have outlined facilities that include multiple dining options, live entertainment spaces, and attractions suitable for families, and these elements work together to position the resort as more than a gaming destination by appealing to a broader range of travelers throughout the calendar year.

Legislative Background and Approval Process

House Bill 1038 established the framework for the additional northeastern Indiana gaming license, and the legislation explicitly ties any project advancement to a public vote in November that will determine whether the community supports the introduction of casino gaming in Steuben County.

Should voters approve the referendum, the Indiana Gaming Commission will then evaluate competing proposals and award the license to the selected applicant, while the entire sequence ensures that local input precedes any final regulatory decision on where and how the new license operates.

Economic Projections and Revenue Estimates

Supporters of the proposal have cited figures showing the creation of between 800 and 1,200 jobs once the resort reaches full operation, and they have pointed to annual local gaming tax revenue in the range of $14 million to $17 million as a direct benefit to county and municipal budgets.

Analysts have noted that nearly half of the projected gaming revenue could come from visitors traveling across the state line from Michigan, and this cross-border traffic forms a key part of the economic case presented in support of the Walters Lake site.

A feasibility study on Steuben County casino tax revenue and economic impact has examined these projections in detail and has outlined how the tax collections would flow to local governments under the terms set by House Bill 1038.

Tourism Integration and Regional Impact

The development strategy centers on the established "101 Lakes" tourism corridor, and project materials emphasize connections to Pokagon State Park as a way to extend visitor stays and generate consistent economic activity beyond peak summer months.

County officials and tourism boards have received information about how the resort could complement existing attractions, and the combination of gaming, lodging, and family-oriented amenities is intended to create a self-contained destination that draws both day-trippers and overnight guests.

Timeline and Next Steps

As of July 2026 the proposal remains in its early public phase, with the November referendum serving as the immediate next milestone that will decide whether the project advances to the licensing stage.

Should the measure pass, the Indiana Gaming Commission will open a formal bidding window and will evaluate each submission on criteria that include financial capacity, operational experience, and community benefit commitments before selecting the final license holder.

Conclusion

The Steuben County proposal represents one of the first concrete responses to the new gaming license created by House Bill 1038, and its progress now depends on voter sentiment in November followed by regulatory review from the Indiana Gaming Commission.

Details released so far focus on the scale of investment, job creation estimates, and tax revenue projections, while the lakeside location and integrated resort features form the core of the developer's vision for attracting sustained regional tourism.