Horseshoe Casino Cincinnati Brings In $21 Million During First MonthFour Ohio Casinos Collect $84 Million During March |
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It’s been a little less than a month since the Horseshoe Casino in Cincinnati opened and the numbers were solid. In total, the casino raked in $21 million in gaming revenue during March.
The Horseshoe, which opened Mar.4 as Ohio’s fourth Las Vegas-style resort, became the fourth Ohio casino to top the $20 million mark during its first month in operation. The Horseshoe Casino in Cleveland earned the most, taking in $26 million in June of 2012.
In total, the four properties located in Cincinnati, Cleveland, Columbus and Toledo earned $84.3 million during the month. The state taxes gaming revenue at 33 percent, meaning $27.8 million will go to various Ohio school districts, cities and counties.
The tax revenue share is determined by population, but each casino host city also earns additional shares. Other programs that benefit from the tax revenue target problem gambling, alcohol and drug addictions, as well as fund dedicated towards law enforcement training.
Casinos generated a total of $917 million in Ohio for 2012. With the addition of the property in Cincinnati, the state will easily eclipse the $1 billion mark, making it a top ten gambling market.
Ohio’s casinos have also taken their toll on competition in neighboring states. Casinos in Indiana, Michigan, West Virginia and Pennsylvania have all reported a decline in gaming revenue since the Buckeye state voted to approve a constitutional amendment to expand gambling.
The four casinos all boast large poker rooms totaling 111 tables. With 31 tables, the Horseshoe in Cincinnati has the largest capacity. The Hollywood Casino in Toledo is the smallest with 20 tables.
For more news from Ohio, check out its state landing page.
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