Tag: revenue

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

24

Dec2014

Survey Says

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A study conducted by Oxford Economics indicates that the gaming industry was responsible for $2.2 billion of Ohio’s economy in 2013. The industry employed nearly 14,000 and generated $672.5 million in tax revenues. Gambling revenue totaled $1.07 billion, well below the $1.9 billion that was projected in 2009 when gambling ... 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

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

16

Apr2013

Casino Revenues

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Ohio’s three established casinos all posted double digit increases in revenue for March. Hollywood Columbus had adjusted gross revenue (AGR) of $20.9 million, a 13.3% increase over February. Hollywood Toledo saw revenues of $17.8 million, a 20.9% increase. Horseshoe Cleveland was up 11.1% to $24.5 million. The new Horseshoe Cincinnati ... Read More

14

Mar2013

Casino Shortcomings

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Ohio’s casino revenues are well below what was projected to voters in 2009. Gross revenues are expected to fall short some $904 million over the two-year state budget period. While there is no definitive answer for why, there are many who blame the Internet cafes. There is no data to ... Read More

14

Mar2013

Casino Revenues

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The casinos in Cleveland, Columbus and Toledo all experienced revenue increases in February. For Hollywood Columbus, revenues increased 1.2% over January to $18.5 million. Hollywood Toledo revenues were up 3.3% to $14.8 million. Horseshoe Cleveland saw the biggest increase, 7% to $22.1 million. Since its first full month of operation ... Read More

11

Feb2013

Casino Revenues

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Adjusted gross revenue increased in January at the Columbus and Toledo casinos, but experienced a significant drop-off at the Cleveland casino. For Hollywood Columbus, the AGI was up nearly 2%, to $18.26 million. The Hollywood Toledo AGI was up slightly to $14.2 million, a .7% increase. And the Horseshoe Cleveland AGI ... Read More

08

Feb2013

Columbus Casino Update

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Due to customer demand, the Hollywood Casino will be removing 500 slot machines and adding 6 poker tables. Columbus becomes the second casino to reduce its slot machines. Recently Cleveland removed 230 slot machines.  This comes on the heels of lower than expected revenues. The average revenue in December per ... Read More