9 Jul 2026
Indiana Developer Unveils $500 Million Casino Resort Plan for Steuben County Shoreline
Mark Hansberger, an Indiana property developer and realtor, has put forward the first public proposal for a lakeside destination casino resort following the passage of House Bill 1038 earlier in 2026, and the plan centers on Walters Lake in Steuben County with a $500 million investment that includes a 400-room hotel along with restaurants, entertainment venues, and family attractions along the shoreline.
House Bill 1038 authorized one new commercial casino license among three northeastern counties, Allen, DeKalb, or Steuben, which means local voters must approve casino gambling through a November referendum before the Indiana Gaming Commission can select a winning bid from any applicants who come forward.
Details of the Proposed Development
The project envisions a full-scale destination resort that would combine gaming facilities with hotel accommodations and additional attractions designed to draw both regional visitors and overnight guests, while the 400-room hotel forms a central element alongside dining options, performance spaces, and family-oriented amenities positioned directly on the Walters Lake shoreline.
Hansberger submitted the proposal as the initial public response to the new licensing framework, and observers note that the scale of the $500 million investment reflects an effort to create a comprehensive entertainment complex rather than a standalone casino operation.
Legislative Context and Timeline
Indiana lawmakers passed House Bill 1038 earlier in 2026, which opened the door for one additional commercial casino license in the specified northeastern counties, and the legislation requires voter approval via referendum in November before any license moves to the Indiana Gaming Commission for final selection among competing bids.
Because this proposal marks the first known public submission under the new law, it arrives ahead of the voter referendum and sets the stage for potential competition from other developers who may submit plans for sites in Allen or DeKalb counties as well.
Those who have followed similar legislative processes in other states often point out that early proposals like this one can influence public discussion ahead of the referendum vote, while the commission's eventual selection process would evaluate factors such as economic impact, site suitability, and operational plans from all applicants.
Economic Impact Estimates
A referenced feasibility study on casino revenue and economic impact projects that the resort could generate revenue with 48 percent coming from Michigan visitors, while supporting between 800 and 1,200 jobs along with $14 to $17 million in annual local gaming tax revenue for the region.
These figures come from analyses that examined visitor patterns from nearby states and the multiplier effects of large-scale resort developments, and the study ties the job creation estimates to both direct employment at the resort and indirect positions in supporting industries such as hospitality supply chains and local services.
Local officials in Steuben County have not yet issued formal positions on the proposal, yet the numbers provide one framework for evaluating potential benefits ahead of the November referendum that would determine whether casino gambling moves forward in any of the three eligible counties.
Next Steps in the Approval Process
Voters in the affected counties will decide the referendum question in November 2026, and only after approval would the Indiana Gaming Commission begin reviewing bids that include the Hansberger proposal along with any others that surface for sites in Allen, DeKalb, or Steuben counties.
The commission's selection criteria remain to be detailed in upcoming regulations, but past licensing rounds in Indiana have considered financial commitments, community support, and responsible gaming measures among other factors when choosing operators for new facilities.
Because the proposal arrives in July 2026, developers and local stakeholders have several months to prepare materials and conduct outreach before the referendum occurs, and additional proposals may emerge in the intervening period as other developers assess opportunities under the new law.
Conclusion
The Hansberger proposal establishes an early benchmark for what a Steuben County casino resort could entail under the framework created by House Bill 1038, and the coming months will reveal whether voters authorize casino gambling and whether this or competing bids advance to the licensing stage.
Further updates on the referendum process and any additional proposals are expected as the November vote approaches, with the Indiana Gaming Commission positioned to handle final selections once local approval is secured.