Category: Casino

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

02

Mar2015
The Ohio Casino Control Commission (OCCC) has approved a decrease in license renewal fees for casino employees. Currently an employee pays $546 in renewal fees: $250 for the application, $250 for the license and $46 for a background check. The OCCC dropped the fee to $196: $100 for the application, $50 for ... 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

04

Feb2015
Caesars Entertainment Operating Company, which operates the Cincinnati and Cleveland casinos as well as the Thistledown racino, has filed for reorganization under Chapter 11 of the U.S. Bankruptcy Code. However, Ohio’s gambling facilities were not listed in the filing. Newly appointed CFO, Eric Hession, has even stated to the Ohio ... Read More

02

Feb2015

Horseshoe Cincinnati #1

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The greater Cincinnati area is one of the most competitive gambling markets in the state, with seven gambling facilities. Hollywood Lawrenceburg, located in Indiana, has dominated the area for years, routinely taking in two thirds of the market’s gambling dollars. But in 2014, Horseshoe Cincinnati, with revenues of $197.6 million, ... 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

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

23

Dec2014
Horseshoe Cincinnati was fined a total of $40,000 by the Ohio Casino Control Commission. $25,000 was for failure to obtain required certifications from third party vendors for contracts greater than $100,000. The remaining $15,000 was a result of the casino allowing employees to receive tips that aren’t permitted to accept ... 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