Tag: casinos

03

Feb2017

Legal Beat

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Barring an appeal, the final challenge to the constitutionality of Ohio’s casinos has ended. Last Fall, a Franklin County Court of Common Pleas judge ruled against Frederick Kinsey, the last of seventeen members of Ohio Roundtable who had filed a lawsuit in 2011 challenging the constitutionality of casino gambling in Ohio. The ... Read More

01

Feb2017

Gambling by the Numbers

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The Columbus Dispatch analyzed gambling in Ohio for the period 2012-15. $62.9 billion was bet at Ohio’s legal gambling establishments with winning payouts totaling $53.3 billion, leaving $9.7 billion that people lost gambling. The casinos to date have generated over $1 billion in tax revenue. Ohio cities and counties have received over $660,000 ... Read More

03

Sep2015

Fines

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Horseshoe Cleveland and Horseshoe Cincinnati have been fined by the Ohio Casino Control Commission (OCCC). The Cleveland casino was fined $50,000 for issues involving its surveillance system. Inadequate coverage of table games was discovered during a routine audit by the OCCC several months ago. It was the failure of the casino to resolve ... Read More

01

Sep2015

Racinos on a Roll

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For the fourth consecutive month, Ohio’s seven racinos have exceeded the four casinos in revenue. July racino revenues totaled a near record $73.1 million, only behind May’s $73.6 million. Casino revenues totaled $69.5 million, a modest $1.5 million above last year (2.2%) but $6 million more than in June. Horseshoe Cleveland saw no ... Read More

28

May2015
According to a recent report by RubinBrown LLP, Ohio had the largest annual increase in gaming revenues in 2014. 23 states have commercialized gambling. Only eight increased revenues in 2014. Ohio’s $1.45 billion was a 35.5 percent increase over 2013 revenues. Three new racinos opened in 2014. But the picture was ... Read More

26

May2015
A recent Moody’s Investors Service analysis seems to think so. Some observations from their report: An aging population. People 65 and older don’t have as much discretionary income that gambling really relies on. At the other end, younger people aren’t as interested in gambling as older generations. And those who are interested prefer technology ... Read More

19

May2015
For only the second time since commercial gambling was legalized in Ohio, revenues from Ohio’s seven racinos ($70.5 million) exceeded those of the state’s four casinos ($69.5 million). Hard Rock racino, with revenues of $17.2 million in April, led the way with a 17.7 percent increase over last year. Scioto Downs was ... Read More

22

Apr2015
Approximately 60 organizations have formed the United Charities of Ohio. Their goal is to update Ohio's bingo laws so that charitable organizations can better compete with the legal gambling establishments such as casinos and racinos, as well as those businesses that negatively impact fundraising such as Internet cafes and skill-game ... Read More

20

Apr2015
Ohio's eleven gambling establishments, four casinos and seven racinos, had a record-breaking month with combined revenues of $145.6 million. The previous high was $135.4 million last December. But casino revenues were down from a year ago. The sharpest decline was Horseshoe Cincinnati. Revenues of $17.5 million represented a 13.2 percent ... Read More

16

Mar2015
Rock Ohio Ventures redeemed a 20 percent minority interest held by one of Caesars subsidiaries and now owns 100 percent of Horseshoe Cleveland, Horseshoe Cincinnati, and Thistledown racino. According to Rock Ohio's CEO, nothing changes for customers. Caesars will still manage the facilities. The properties will still be part of ... Read More