Ohio Gambling Revenue Levels Off In August

Ohio casinos had the spike in revenue that was expected when the states four casinos opened after years of residents having no gambling outlets. That love affair with gambling has wore off over time, as indicated by decreasing revenue figures in August.

Continuing a trend that now spans several months, Ohio’s casinos all saw revenue decreases in August. The amount of decline, as much as over 15% at Scioto Downs Casino & Racetrack, is the cause for concern. Still, officials are blaming a general slump across the US for the decline.

“The whole regional gaming market continues to suffer,” said Steve Gallaway, an advisor at Gaming Market Advisors. “and almost every market shows year-over-year decline. It’s a broken record, but it’s the economy. People just don’t have the disposable income.”

In August, revenue dropped at the Horseshoe Casino Cleveland from $19.86 million, to $18.91 million. Hollywood Casino Columbus revenue fell to $16.89 million, from $17.48 million. Horseshoe Casino Cincinnati had the smallest drop in revenue from July to August, dropping less than one percent. Hollywood Casino Toledo was the only one of the four major casinos to see a revenue increase. In Toledo, revenue rose 2.9%, to $15.86 million. Read More Here

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