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 ...
May 28, 2015ogadmin
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 ...
May 26, 2015ogadmin
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 ...
May 19, 2015ogadmin
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 ...
April 20, 2015ogadmin
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 ...
March 16, 2015ogadmin
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 ...
March 12, 2015ogadmin
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 ...
March 2, 2015ogadmin
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 ...
February 24, 2015ogadmin
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 ...
February 4, 2015ogadmin
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, ...
February 2, 2015ogadmin