Ohio Casinos Report 2.9% Revenue Gains in November

admin, December 9, 2015 11:21 am

Ohio Casinos Report 2.9% Revenue Gains in NovemberAccording to the Ohio Casino Control Commission, the state’s four casinos generated revenues of $64.6 million in November, a 2.9% gain compared to the same month in 2014. In addition, Ohio’s seven racinos saw their revenues rise to $65.6 million, an 8.4% improvement on the $60.3 million collected in November of last year.
Leading Ohio’s casinos in terms of growth was the Horseshoe Casino Cincinnati which noted a 4.5% rise in revenues to $16.5 million. Commenting on the positive news, a casino spokesperson explained:
“Horseshoe Cincinnati had a great month of November with many popular promotions that resonated well with our guests. The Ultimate Jackpot 3 promotion, where we gave away a car as the top prize, brought in extra visits to the casino and had guests looking forward to the finale.”
Next highest was the Hollywood Casino Columbus, up 3% to $17.3 million; followed by the Hollywood Casino Toledo up 2.5% to $14.4 million; and finally the Horseshoe Casino Cleveland up 1.5% to $16.4 million.
So far this year, Hollywood Toledo has generated $175.9 million in revenues, a 4.6% improvement over the first 11 months of 2014, while for Hollywood Columbus its $192.1 million in revenues is higher by 1% year-over-year. On the flipside, Horseshoe Cincinnati’s revenues of $178.8 million is 1% off last year’s 11 month total for the same period, while Horseshoe Casino Cleveland is lower by 2.6% at $193.8 million.
The Buckeye State places a 33% tax on gambling revenues, and for the first 11 months of 2015 Ohio has collected $740.7 million in gambling taxes, up roughly half a percent compared to the same period of time in 2014. The money collected is subsequently channeled towards a number of funds, namely host cities, county governments, school districts, the Casino Control Commission, the Racing Commission, law enforcement training, and problem gambling and addictions.

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