Horseshoe Cleveland revenue takes a dive - 19 Action News|Cleveland, OH|News, Weather, Sports

Horseshoe Cleveland revenue takes a dive

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Horseshoe Cleveland revenue drops dramatically Horseshoe Cleveland revenue drops dramatically
CLEVELAND, OH (WOIO) -

The Horseshoe Cleveland has seen a dramatic drop in adjusted gross revenue from June of last year to this past month.

They made $26 million after payouts to players in June of 2012. 

Last month they took in just over $19 million.

Why the drop? Three other casinos opened up for business in Ohio, Horseshoe Cincinnati, Hollywood Columbus and Hollywood Toledo.

We dug deeper into the numbers and discovered so far this year Horseshoe Casino pays out the second highest percentage of winnings on table games to players compared to the other 3 casinos.

On the flip side, slots players at Horseshoe Casino are dead last when it comes to payouts at all four casinos at 90.87%.  Horseshoe Cincinnati pays out the most.

The only other casino opened last year in June was Hollywood Toledo. They saw their revenue in June compared to last year drop by $5 million.

Overall, Horseshoe Cleveland did lead the way in over revenue for this past month across the state. 

Slot players pushing up that total by playing more than $140 million dollars worth of slot play in June at Horseshoe Cleveland. 

Horseshoe Cleveland officials say Horseshoe Cleveland and ThistleDown Racino continue to garner traction, as evidenced by the increased growth in admissions and revenue at the two properties combined.

Horseshoe Cleveland continues to lead the state in casino gaming revenue with a 28% market share, due in part to the continued strong popularity of table games in the market.

ThistleDown and Horseshoe Cleveland look forward to an exciting summer as they give away $3 million in cash to three lucky winners and ThistleDown completes a $1 million renovation of its horse racing wagering floor.  

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