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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.


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