Tag: casinos

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

21

Jan2013

Fines

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Operators of Cleveland’s Horseshoe Casino were fined for violating Ohio Casino Control Commission regulations. This is the first time an operating company has been sanctioned. The casino will pay a $15,000 fine for using software not approved by the commission. The casino will also be required to have an employee ... Read More

14

Jan2013

Casino Revenues

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December revenues at Ohio’s three casinos reversed earlier trends.  The Horseshoe Casino in Cleveland had seen revenues decline in every month since June, which was the first full month of operation. December revenues increased $4.1 million, a 20% increase from November.  The Hollywood Casino in Toledo had seen even more ... Read More

18

Dec2012

Would-Be CFO Banned

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In an agreement reached with the OCCC, Thomas Dillard III was barred from becoming CFO for Cleveland’s Horseshoe Casino and prohibited from working with any casino in Ohio for the next three years. Concerns about Dillard arose during the licensing process (reported in our April 24 article). Dillard’s North Carolina ... Read More

18

Dec2012

Cincinnati Casino

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The Ohio Casino Control Commission has approved an opening date of March 4, 2013, for the Cincinnati Horseshoe Casino. This is the fourth and final casino that was approved by voters in 2009. The Cincinnati casino is expected to employ approximately 1,700 people and will include 2,000 slot machines, 85 ... Read More

12

Dec2012

Casino Revenues

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Overall, casino revenues were up slightly in November, but that can be attributed to the Columbus casino’s first full month of operation. Revenues at the Toledo and Cleveland casinos, as well as the racino at Scioto Downs, continue to decline. For the Horseshoe Casino in Cleveland, the drop in adjusted gross ... Read More

05

Dec2012

Casinos Update

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Revenues Revenues at the Cleveland and Toledo casinos continue to decline. For Cleveland, the decline in October was less than in previous months, falling $300,000 to $20.8 million. Since June, the first full month the casino was open, revenues have fallen 20%. For Toledo, the drop was a little steeper, falling ... Read More

04

Dec2012

Ballot Issues

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In last month’s election, the citizens of Green passed a charter amendment banning casino gambling and horse racing in their city. The issue was put on the ballot because of discussion that the Thistledown racino in North Randall was contemplating relocation to Green. Owners of Thistledown opted to stay put ... Read More

13

Sep2012
Penn National Gaming received a license to operate the Columbus Hollywood Casino. The grand opening for the casino has been scheduled for October 8. The casino has planned an invitation-only “soft opening” on October 3. The proceeds from the soft opening will be split between five local charities, including the ... Read More

12

Sep2012

Taxes

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The Feds and the casino cities want their cut of your winnings. Columbus became the latest city to impose an income tax on any winnings from games of chance, including church raffles, the Ohio Lottery and other drawings. Even bingo and March Madness winnings are included. The tax is applicable to ... Read More