Bets drop in fourth month at Hollywood Casino - 13abc.com Toledo (OH) News, Weather and Sports

Bets drop in fourth month at Hollywood Casino

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Bets at Toledo's Hollywood Casino are continuing their monthly drop.

The Ohio Casino Control Commission released the September revenue numbers on Tuesday.

September was the fourth full month of operations.  The numbers show the novelty appears to be wearing off.  However, the casino still did big business.

Last month gamblers bet $153 million at Hollywood Casino's slot machines and table games.

That's down from $168 million in August.

The peak was back in June, the first full month of operations, when bets totaled $215 million.

Lower gambling numbers mean casino revenue is also down.

In September the casino reported $15.9 million in revenue.  That's a $1.4 million drop compared to August.

In August revenue fell nearly nine percent compared to July.

And in July revenue decreased more than six percent compared to June.

"People start off they have a good time, it's a big deal, but then it kind of levels off," says Lucas County Commissioner Pete Gerken.  "We're trying to figure that part out."

Local government leaders say the report is promising.

The casino pays a 33 percent revenue tax which gets dispersed across the state.

According to the Ohio Department of Taxation, this quarter Lucas County will get $383,299.  That's up from $192,041 back in July.  The reason for the increase is this is the first full quarter for the new casino.  It was open all three months.

Gerken says the money is going into the general fund to help balance the budget.

"We're pleased," says Gerken.  "It's certainly money that we didn't have last year. And with the loss of revenue that we experienced with the state through local government funds, this is a good shot."

The City of Toledo is getting $1.24 million this quarter out of the casino tax.  That's up from $531,616 in July.

"What we need to do is primarily use this money for public safety, hiring more police officers and hiring more firefighters," says Toledo City Councilman George Sarantou.  "And also some of that money should go in the rainy day fund."

A portion of the casino tax is earmarked for the student fund.  The state report says as a whole there is $13.4 million in that fund for schools.  However, the state is still working on the formula for how it will be divided up for the state's 614 school districts.  That money is slated to be distributed on January 31, 2013.

 

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