Promises made by casino supporters in Ohio relative to the amount of money the gambling properties would generate have fallen far short of reality, according to figures accumulated by the Zanesville (Ohio) Times Recorder newspaper.
In the article, written by Jessie Balmert, the first full year of operation by the four licensed casinos generated $839 million in revenue, far short of the $1.9 billion that had been projected.
As for reimbursements to counties, host cities, schools and other funds, the total amount was $376.7 million. This, it was pointed out, was significantly less than the $651 million previously promised.
The numbers indicated distributions rose through the first half of 2013 but declined during the final two quarters.
Supporters suggested it was too early to make final estimates since the gaming business was in a growth mode. However, others pointed out that eating into the casinos’ revenues were the increasing number of racetrack slots facilities.
In 2015, Ohio will have four casinos and seven racinos.
Ray Poirier is the longtime executive editor at GamingToday.
Contact Ray at [email protected].