Casinos in Ohio are forecast to bring a revenue of around $1.6 million to Clark County over the following year. This assessment is made according to the report, presented by Nathan Kennedy – the Clark County Administrator, revealing that in 2014 the four casinos in the state earned over $1.6 million.
The report shows that the same revenue as the one generated in 2014 is expected to be earned next year. Commissioner John Detrick also claimed that the money has provided a cushion for over $3 million, which was lost from the fund cuts the state local government made. He considers the amount received every year as unreliable.
John Detrick said he was content with the earnings received from gambling, but he also considered there was not any guarantee with them, due to the four quarterly payments.
In 2009 Ohio voters improved the state constitution to permit casinos in selected cities. The state levies a 33% tax on gross gambling revenue – the sum left after the winners receive their earnings.
Four casino payments are received by the local governments every year. Ohio school districts share with them 34% of the tax revenue and receive the payments from two casinos on an annual basis.
The Ohio Casino Control Commission announced that the four casinos in Ohio have made revenue of $62 million in November. However, the revenues of three of the four casinos had decreased.
The revenue of Hollywood Columbus fell from $17.2 million during October to $16.8 million in November. Hollywood Toledo had revenue of $15.2 in October in comparison to $14 million generated in November. The Ohio Casino Control Commission reports an increase in the revenue of Hollywood Cincinnati – from $13.9 million earned in October to $15.8 million earned in November.
John Detrick explained that officials were constantly bothered about casino revenue declines. The Auditor of the county John Federer announced that he doubted that Clark County would get $1.6 million from casino revenue in 2015. The reason for this, according to him, is the growing number of racinos in Clark County. His expectations from the casino revenue, announced in the budget hearings, are estimated to $1.5 million. Detrick reveals that officials have sent the money in the general fund of the county, which amounts to more than $40 million.
According to Commissioner Rick Lohnes, the money earned from casinos has been necessary and have filled a big gap in the budget. He has asked from legislators to change the rules for local government funds. Mr. Lohnes also suggested more of the local government funds to be released, particularly the townships and small towns. The casino revenue has increased since 2012, being $360,084 in 2012, changing to $1,554,313 in 2013 and $1,638,525 in 2014. The estimate for 2015 is expected to be even bigger – around $1.6 million.
