Latest casino revenue figures to be released Monday - Cincinnati News, Weather, Sports from FOX19 NOW-WXIX

June casino revenue figures released

COLUMBUS, OH (FOX19) -

A June update has been released on how Ohio's casinos are faring financially.

June revenue reports give statewide totals for the month for the state's budding casino gambling industry.

Cincinnati's Horseshoe Casino saw revenue of $17,611,174 in June, down about $2 million from May and about $200,000 from April.

Many entities that depend on casino money are paying very close attention to the up and down revenue trend.

"This isn't welcomed news for anybody," said Councilman P.G. Sittenfeld. "I would say from a council member standpoint, what it really means for us is that we need to be conservative in all of our projections and budgeting. Let's not assume there is going to be some rosy scenario. Let's assume we are not going to have as much money."

Sittenfeld says the city budgeted to get $10 million from casino revenues this year.

"We did use a chunk of the casino revenue toward plugging the budget deficit," said Sittenfeld. "We don't think any of the recent forecast are going to change our ability to do that."

Cincinnati Public Schools also depends on money from the casino.

Director of Public Affairs Janet Walsh says casino dollars to the school district equates to $20 per student per year.

"Twenty dollars per student can buy materials, you know it's revenue, it's money," said Walsh.

Horseshoe Cincinnati officials released the following statement regarding the revenue report:

"Horseshoe Cincinnati continues to gain traction as evidenced by the increased growth in admissions and volumes," said Senior Vice President and General Manager Kevin Kline.

 "As we continue to ramp up the business in a highly competitive market, we have been successful in building our Total Rewards customer database, and introducing regional gamers to our new property."    

Horseshoe Cincinnati continued to have the loosest slots in the state, with a 93.39 percent payout.

Cincinnati's revenue was second in the state, behind Cleveland at $19,336,857. Toledo saw $15,200,228 in revenue and Columbus $16,494,467.

In total, Ohio's four casinos brought $68,642,726 in revenue in June..

Ohio Casino Control Commission: http://www.casinocontrol.ohio.gov

Copyright 2013 WXIX. All rights reserved.

 

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