Thanks to an appropriation in Ohio’s biennial budget, six communities will each receive $1 million over the next two years to help with infrastructure costs and increased public safety for the racinos. The money will be paid in two installments of $500,000 each at the end of 2015 and 2016. Half ...
Hollywood Gaming at Mahoning Valley is adding 75 VLTs at a cost of $975,000. This will increase the total number of VLTs to 941. Hollywood Gaming already generates the most revenue per VLT among the state’s seven racinos. Penn National Gaming is hopeful construction will be complete by September 1.
Several former employees of Horseshoe Cincinnati have been indicted on two different scams that cost the casino more than $121,000. In one of the scams, a table games supervisor would place a predetermined sequence of cards into a deck at a baccarat table. Once the deck was ready, he would ...
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 ...
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 ...
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 ...
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 ...
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 ...
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 ...
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 ...