Ohio’s gaming revenues enjoyed their biggest annual increase last year. It’s annual revenue for 2014 was .45 billion, 35.5 percent larger than the year before, and largely attributable to the fact that all of the state’s seven racetracks have become racinos, joining the state’s four casino resorts.
This appears to be at the expense of the casinos in Ohio’s four neighboring gaming states, Pennsylvania, Michigan, Indiana and West Virginia, whose revenues have declined from 1.4 percent (in Pennsylvania) to 10.9 percent in West Virginia. The declines mean a decline in state taxes, usually at a higher rate than the profit declines.
To defend its turf Pennsylvania recently awarded its last category 2 license for a casino with as many as 5,000 slots and 250 gaming tables. The casino will be built in South Philadelphia.
In a related development, the $175 million Miami Valley Gaming racino in Lebanon, Ohio, last week announced the appointment of Domenic Mancini as president and general manager. He has been senior director of operations of the racino since it opened two years ago.
The racino is a partnership between Delaware North Companies and Churchill Downs Inc.
