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24

Feb2015

January Revenues Up

/ Casino
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

11

Feb2015

Video Raffle Machines

/ Lottery
While awaiting a decision from a lawsuit filed in Franklin County, video raffle machines continue to operate at veterans and fraternal organizations. Attorney General Mike DeWine’s position is that these machines are illegal gambling. Last week, the Ohio Veterans and Fraternal Charitable Coalition announced these machines have raised $12 million. Half ... Read More

09

Feb2015

Court Date Set

/ Lottery
The Ohio Supreme Court will hear oral arguments on the constitutionality of Ohio’s video lottery terminals on June 23. Ohio Roundtable filed the lawsuit, claiming that Governor John Kasich overstepped his authority by allowing VLT’s at Ohio’s seven horse racing tracks without voter approval. The case was filed in 2013, ... Read More

04

Feb2015

Caesars Files for Bankruptcy

/ Casino
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

/ Casino
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

/ Casino
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

/ Casino
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

Cincinnati Casino Fined Again

/ Casino
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

23

Dec2014

Kasich Vetoes Racino Payment

/ Lottery
A Senate amendment to HB494 called for three annual payments of $500,000 to Austintown and Dayton for being racino host cities. Governor Kasich has vetoed the amendment. The issue was over where the payments would come from. The amendment called for a 50-50 split of each $500,000 payment, half coming ... Read More

22

Dec2014

Financial Woes

/ Casino
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