September Revenues

September Revenues

September was a mixed bag for Ohio’s casinos. Horseshoe Cleveland ($19.34 million, up 2.3%) and Horseshoe Cincinnati ($19.80 million, up 3.1%) showed increases over August. Hollywood Toledo ($14.08 million, down 11.2%) and Hollywood Columbus ($15.71 million, down 7%) showed declines over August. Scioto Downs racino ($10.51 million, down 5.3%) also showed a decline from August. Thistledown ($11.81 million) showed no change from August.

Combined statewide revenues were down 2.7% from August. The bigger picture shows revenues $227 million below projections by a state commissioned study in 2011. The bulk of that shortfall can be attributed to Hollywood Columbus. The study projected annual revenue to $381 million. Actual revenues for Hollywood Columbus were $215 million, a $166 million shortfall.

The other casinos are also below original projections. Horseshoe Cincinnati is the most accurate so far. With revenues of $233 million, they are $6 million below the projected $239 million. Horseshoe Cleveland has revenues of $262 million, which is $18 million short of the $280 million projected and Hollywood Toledo, with revenues of $193 million, falls short $42 million of the study’s $235 million projection.

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