Revenues Drop At Ohio Gambling Casinos

Revenues are down at two new Ohio gambling casinos. In June, the first full month of operation, the Hollywood Casino in Toledo and the Horseshoe Casino in Cleveland reported combined gross revenues of $46.5 million. In August that number dropped to $40.2 million. In another comparison, gamblers dropped just over $355 million into slot machines in June. That number fell to $291 million in August. Casino revenues are taxed at a rate of 33 percent with most of the money going to county governments. Beginning next year schools will be receiving some of that money.