Tag: casinos

12

Mar2015

Up and Down Gambling

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Three of Ohio's four casinos showed a decline in revenues from a year ago, but overall, gambling revenues were up slightly (1.1 percent). Horseshoe Cleveland was the only casino with increased revenues from a year ago, up 14.7 percent, to $20.1 million. Horseshoe Cincinnati, with revenues of $15.6 million, declined ... Read More

24

Feb2015

January Revenues Up

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Revenues at three of Ohio’s four casinos were up from a year ago. Hollywood Toledo led the way with a 24.2 percent increase over January 2014 ($14.3 million). Hollywood Columbus had the highest revenue for the month. The $17.9 million was a 17 percent increase over last year. This was also the third time ... Read More

29

Jan2015

December Revenues Up

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With the exception of the Thistledown racino, all of Ohio’s gaming facilities that were open a year ago, saw revenue increases. Horseshoe Cleveland had its best month since March 2013 with revenues of $21.3 million, a 16.5% increase over last year.  Among the casinos, the largest increase was at Horseshoe ... Read More

22

Dec2014

Financial Woes

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Caesars Entertainment Corp, whose subsidiary Caesar Entertainment Operating Co. manages the Horseshoe casinos in Cleveland and Cincinnati may be on the verge of bankruptcy. They have closed three casinos this year and face a mounting debt that currently stands at $25 billion. In a recent SEC filing, Caesars stated that ... Read More

22

Dec2014
Every gambling establishment that was open a year ago (4 casinos and 2 racinos) experienced revenue declines in November. Hollywood Columbus had the smallest decline, $16.8 million which was down from $17.5 million a year ago, a 4.1% decrease. Hollywood Toledo had the next smallest decline with revenues of $14 ... Read More

15

Oct2014

Rock Ohio Caesars Fined

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By law, casino operators are required to be transparent with all financial transactions. Rock Ohio Caesars failed to notify the Ohio Casino Control Commission of a loan refinancing that it failed to close. As a result, the OCCC has fined Rock Ohio Caesars $200,000, the largest fine levied against a ... Read More

14

Oct2014

Jobs Down

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Casino revenue projections are not the only numbers falling short.  In 2009, projections called for 17,200 casino jobs. To date, there are 14,444. Casino officials all point to the same reason.  Racinos. VLT’s became legal at horse racing venues in 2011 and has created competition for casinos that was not ... Read More

14

Oct2014

September Revenues Down

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The 9 gambling facilities in Ohio that have been open for at least 30 days all experienced revenue declines from August. On the casino front, Horseshoe Cincinnati saw the smallest decline, less than 1%.  Hollywood Toledo revenues declined 8.9% from August while Horseshoe Cleveland dropped 18% and Hollywood Columbus 12%. From ... Read More

13

Aug2014

Illegal Gambling

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After several complaints from local residents, the Ohio Attorney General’s office executed a search warrant against the House of Skills, a business in Smith Township in Mahoning county. The business is suspected of operating casino gaming devices and providing cash payouts. Games of skill are permitted in Ohio but cash ... Read More

13

Aug2014

Columbus Revenues Up

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July was a mixed bag for Ohio’s gambling establishments.  Hollywood Columbus revenues were up ever so slightly (.4%) from a year ago and Hollywood Toledo was up 6.4%.  Horseshoe Cleveland (10.7%) and Horseshoe Cincinnati (15.5%) saw significant decreases from last year.  Overall, casino revenues in Ohio were down 5.6% from ... Read More