Horseshoe Cincinnati Casino revenue falls 3.3 percent in November to all-time low

Bingo revenues falling

CINCINNATI – Horseshoe Cincinnati Casino reported its lowest monthly revenue in November since opening last March.

Revenue was off 3.3 percent from October, down to $17,582,237. Cincinnati revenue is off 11.2 percent since September.

Cincinnati revenue year to date is $170,298,598 - about $1.2 million ahead of Hollywood Toledo ($169,101,848) for third place in the state behind Horseshoe Cleveland ($224,372,233) and Hollywood Columbus ($194,332,353).

Cincinnati was second in November behind Cleveland ($20,220,985) and just ahead of Columbus ($17,534,583), with Toledo fourth ($14,847,264).

Cleveland’s and Toledo’s revenue rose slightly, while Columbus’ fell slightly.

Statewide revenue was just about even, gaining less than .1 of one percent to $70,185,069.

For the year, Ohio casino revenue is just more than $758 million.

RELATED: See the November report from the Ohio Casino Control Commission

Bingo profits fall

Profits generated by Ohio charities on bingo games have dropped steadily in recent years, as well.

State numbers show charities playing bingo generated profits of more than $100 million last year, more than other state. But revenue has dropped annually since peaking in 2005.

The Dayton Daily News reports that the economic downturn, as well as the new casinos and racinos, have bitten into bingo profits.

Around 1,700 nonprofits use bingo to raise money. Most remain profitable, but some operations have closed in recent years or are scrambling to pay bills.

Ohio bingo games took in $855 million in 2012 and turned a profit of $106 million. But those numbers pale in comparison to 2005, when state bingo operations logged revenues of $1.4 billion and took $196 million in profits.

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