Horseshoe Casino Cincinnat bounces back from revenue drop
Maxim Alter, WCPO Digital
4:07 AM, Jun 7, 2013
6:49 PM, Jun 7, 2013
CINCINNATI -- Ohio regulators released new revenue figures for the state's four casinos Friday, and Horseshoe Casino Cincinnati is not only making money -- its customers are too.
Horseshoe Casino Cincinnati's May revenue placed it second among Ohio's four casinos, taking in $19.6 million in May.
Horseshoe Casino Cleveland took the top spot, while Hollywood Casino Columbus and Toledo fell below Horseshoe Casino Cincinnati in revenue.
Despite the recent success, all four casinos saw significant dips in April revenues compared to March.
Horseshoe Casino Cincinnati dropped from $21 million in its first month of operation in March, to about $17.8 million in April. That's about a 15 percent drop. Cleveland saw an even bigger drop from about $24.5 million in March, to $19.9 million in May -- a nearly 19 percent decrease. Columbus' revenues fell by 13.7 percent to $18 million, while Toledo's dropped by 8.2 percent to $16.4 million.
In the three months Horseshoe Casino Cincinnati has been open, it has generated nearly $59 million in revenue.
But it’s the payout for both table games and slots that are music to the ears of customers.
In March, the table games paid out at 80.7 percent, but that increased to 82.3 percent in May -- the best in Ohio.
Slot machine payout was 92.3 percent in May, compared to 89.31 percent in March -- again the best in Ohio.
The casino hopes to attract six million visitors a year and $300 million in annual revenue.