facebooktwitterRSS
- Advertisement -
  • Most Commentedmost commented up
  • Most Emailedmost emailed up
  • Popularmost popular up
- Advertisement -
 

« News Home

Casino revenue falls in June



Published: Tue, July 8, 2014 @ 12:00 a.m.

Staff report

youngstown

Statewide casino revenues are down for the fourth-consecutive month compared with the previous year.

For the month of June, the revenues for the state’s four casinos dropped to $63.6 million compared with $68.6 million last June, a decrease of roughly 7 percent.

Overall revenues for the casinos are down for the year, according to figures released Monday by the Ohio Casino Control Commission.

Casino-tax revenue for counties fell in the first quarter of 2014, and the drop was blamed on a colder winter and increased competition from the state’s racinos, with a new racino in Austintown expected to open before the end of the year.

In an April Vindicator story on the issue, Kyle Miasek, Youngstown deputy finance director, said market saturation eventually would occur from all the options to gamble in the state.

Casino revenues for the state are $409.8 million through the end of June. Total casino revenues for 2013 were $821.3 million.

The state charges a 33 percent gross revenue tax on the state’s casinos in Cleveland, Columbus, Cincinnati and Toledo.

Those tax funds are distributed to counties, school districts, host cities and others.


Comments

1grazor50(66 comments)posted 5 months, 2 weeks ago

Money, money everywhere, but no one seems to have any! The state's casino revenue fell again the article states, just over $800m received per year, a few short years ago, this revenue did not exist. Even though it is not a direct tax, it is still a government income to be dispersed from the people source to a government controller and everyone at that level says there is no money and need more, EX> Mahoning county government, Needs money for safety forces, but set up DUI check points to the costs of thousands, to catch maybe 1 to 3 DUI that barely break the limit, but could have been spotted if impaired.
Most that have a cell phone call in erratic driving, state and twp. police have time to sit and watch the traffic congestion at 224 & 680 and are going to ticket if you block the intersection, but they are not going to get out of the car and help direct traffic. I think they call that " TO SERVE AND PROTECT".
The only serve part now is to gain more revenue by serving fines to increase local income, which never seems to be enough.

Suggest removal:


News
Opinion
Entertainment
Sports
Marketplace
Classifieds
Records
Discussions
Community
Help
Forms
Neighbors

HomeTerms of UsePrivacy StatementAdvertiseStaff DirectoryHelp
© 2014 Vindy.com. All rights reserved. A service of The Vindicator.
107 Vindicator Square. Youngstown, OH 44503

Phone Main: 330.747.1471 • Interactive Advertising: 330.740.2955 • Classified Advertising: 330.746.6565
Sponsored Links: Vindy Wheels | Vindy Jobs | Vindy Homes