Tax Revenue From Casinos Falls Short Of Predictions

Ohio's casino tax revenue over the past year fell short of what state officials had predicted. The state's four casinos generated $273.4 million in tax revenue in the fiscal year that ended in June. That was more than $36 million less than the state had predicted. The state executive budget for the fiscal year estimated that casinos would bring in more than $309 million in tax revenue. The Department of Taxation said Thursday that the gambling revenue missed the target by nearly 12 percent. The likely reason is competition: Five racinos have opened since casino gambling was introduced in Ohio in 2012, and two more are slated to open in the coming months.