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Published: Tuesday, 12/11/2012

Toledo casino revenues still falling

BLADE STAFF

Toledo casino revenues fell again in November, continuing a downward trend at the gambling site that opened in May.

Last month’s adjusted gross revenue at the Hollywood Casino Toledo fell to about $13.6 million from $14.8 million in October, according to numbers released by the Ohio Casino Control Commission.

The adjusted gross revenue equals the money received by the casino for slots and table games minus winnings paid to gamblers. The casino’s monthly revenue has dropped each month since June, its first full month of operation. June’s revenue was $20.4 million.

Casino spokesman John McNamara said officials don’t discuss revenues and referred to recent comments by general manager Richard St. Jean, who said in November the casino expected revenues to drop as the novelty diminished, but that he expects an uptick next year as the casino expands its loyalty programs.

Revenue at Cleveland’s Horseshoe Casino also fell slightly in November.

The Cleveland casino had revenues of about $20.5 million in November, compared with $20.8 in October. Its revenues fell from a June high of $26.1 million.

The Hollywood Casino Columbus, which opened Oct. 8, tallied November revenues of $20 million in its first full month of operation.

That’s up from about $18.3 million in October.

Total revenues from all three casinos nudged up slightly in November to about $54.1 million compared with roughly $53.9 million in October.



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