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Horseshoe Casino Operators Dismiss Decline In June Revenues

Monday, July 7, 2014 at 11:12 PM

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Horseshoe Casino image (from Caesar's Entertainment)

Cleveland’s Horseshoe Casino continues to show a decline in revenues. New June figures from the Ohio Casino Control Commission show a 12-percent decrease compared to last year, and a 35-percent drop from 2012. ideastream’s Brian Bull reports:

Horseshoe operators at Caesar’s Entertainment, say…don’t read too much into the numbers.  They say June is typically slow for casinos in some areas, as people go on vacation. 

Spokeswoman Shannon Mortland did add that the gaming field has gotten pretty crowded.

“In June 2012, Horseshoe Cleveland was the only gaming destination in the area. The landscape has changed quite a bit in that time,” she says.  “You’ve probably noticed that we opened our own Thistledown Racino, and of course, the Hard Rock Racino opened just down the street from Thistledown. So there are more gaming destinations in town, this year.”

As to Phase 2 of the Horseshoe Casino – which would extend it to the shore of the Cuyahoga River – Mortland says there’s no set timeline.

“NO ONE should expect that new casino to be open any time, for the foreseeable future,” retorts Brent Larkin.  He’s a columnist for the Plain Dealer and its former editorial director.  He’s long-criticized the casino industry’s campaign in Ohio.  He says no one should be surprised at the latest revenue numbers, given the regional competition that goes beyond a few neighboring racinos.

“Areas east of the Mississippi, and above the Mason-Dixon line, are saturated now with casino gambling.  In the east, casinos are beginning to close there’s so many for them.  And Ohio is surrounded—except for Kentucky—with casino gaming.”

The Horseshoe’s June numbers are comparable to February’s. Collectively, all of Ohio’s voter-approved casinos have drawn more than $409 million so far this year…about $3 million less than this time in 2013.

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Economy, Regional Economy/Business - Analysis and Trends, Community/Human Interest, Government/Politics

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