The Ohio Casino Control Commission released on Monday an update of the revenue generated by the state’s four casinos in November. Revenue increased in all four gambling venues last month. The total amount of $64.4 million was reported, up 2.9% compared to November 2014.
Revenue at Hollywood Casino Toledo amounted to $14.4 million, registering an increase of 2.5% as compared to what was generated for the same month a year ago. Hollywood Casino Columbus generated a total of $17.3 million, up 3% year-on-year. Both gambling venues are managed by gambling operator Penn National Gaming Inc.
The other two casinos located within the state’s borders are currently run by Caesars Entertainment Group and its local partner Rock Gaming. Revenue at Horseshoe Casino Cleveland was up 1.5% to $16.4 million in November. Horseshoe Casino Cincinnati posted a 4.5% increase in last month’s revenue to $16.5 million.
Last month, it was announced that Rock Gaming would take over the two properties as well as Caesars’ Ohio-based racino. The transition is expected to be completed sometime in mid-2016 and would include the removal of the Horseshoe brand from the three gambling venues as well as their separation from Caesars’ loyalty program.
The November figures represented an increase from October in Columbus and Cincinnati. However, they were down from the previous month in the Cleveland and Toledo properties. Here it is important to note that the posted results contain only the amounts of money wagered on gambling options. Revenue from entertainment and food and beverage options was not included.
During the first eleven months of the year, the four casinos generated overall revenue of $740.7 million, up 0.5% year-on-year. The Toledo and Columbus properties were the only two to post an increase in the eleven-month period ended November 30.
Hollywood Toledo posted an increase of 4.6% to $175.9 million. Revenue at Hollywood Columbus amounted to $192.1 million, up 1% year-on-year. In Cincinnati, revenue dropped 1% in the first eleven months of the year to $178.8 million. Horseshoe Cleveland posted a 2.6% decrease in revenue to $193.8 million. Under the current Ohio gambling regulations, the state levies a 33% tax on revenue from gambling options. The money is contributed to host communities, larger cities, and school districts.
Apart from the four full-scale casinos, the state also has seven racinos operating within its borders. In November, those generated overall revenue of $65.6 million compared to $60.3 million for the same month a year ago. The seven gambling venues posted the total amount of $758.6 million during the eleven months ended November 30.
