According to information released by the Ohio Department of Taxation, the state’s four casinos generated 7% less in tax revenue during the second quarter of 2015. The total amount of $64.2 million is to be allocated to host cities, counties, and regulators.
In comparison, the amount of $68.6 million was posted for the first quarter of the year.
Horseshoe Casino Cincinnati generated revenue of $48.6 million over the period ended June 30. As a host city, Cincinnati is to receive $1.9 million. In comparison, the gambling venue posted revenue of $48.4 million for the first quarter of the calendar year and contributed the amount of $2 million to its host city.
Horseshoe Casino Cleveland collected a total of $51.7 million in revenue during this year’s second quarter. The city is to be contributed $2.6 million. The first quarter of 2015 saw the gambling venue generate $57.2 million. This resulted in $2.9 million being paid to the host city.
Hollywood Casino Columbus posted quarterly revenue of $53.4 million, which means that Columbus will get the amount of $2.6 million for hosting the venue. During the previous quarter, the casino generated revenue of $52.9 million and contributed $2.8 million to the city coffers.
Last but not least, Hollywood Casino Toledo posted revenue of $50.2 million for the three-month period ended June 30. The gaming facility is to pay $1.4 million of its overall proceeds to the city. By comparison, Toledo received $1.4 million after the end of this year’s first quarter out of $46.8 million generated by the casino.
Generally speaking tax revenue from casinos accrues on a daily basis. However, host cities and counties are distributed the proceeds four times a year, that is – in the end of each quarter.
A breakdown of the money deposited by casinos during the second quarter of this calendar year shows that counties are to receive $32.7 million compared to $35.1 million for the three months ended March 31. The amount of $21.8 million would go to various educational programs. In comparison a total of $23.4 million was contributed to those during the previous quarter.
The Casino Control Commission fund is set to be paid $1.9 million compared to $2.1 million in the first quarter of 2015. The amount of $1.9 million will be contributed to the Ohio State Racing Commission. The regulator received $2.1 million for the previous quarter.
The Law Enforcement Training and the Problem Gambling and Addictions funds would be contributed $1.3 million each. In comparison, those received the amount of $1.4 million for the three months ended March 31.
Ohio’s four casinos have been imposed a 33% tax on revenue. The amount generated during this year’s second quarter does not include proceeds from the state’s seven racinos. Tax revenue from those goes to the Ohio Lottery Commission.
