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Thursday, May 30, 2013

Ohio: Failing to Live Up to Expectations

Just like Ohio, Massachusetts has overstated revenue projections.





May 29, 2013

Toledo casino marking one year as state's revenue continues to lag estimates



Web coordinator- Business First
Thursday marks one year since Hollywood Casino Toledo opened, and tax revenues from gambling operations across the state have failed to live up to expectations in that span, the Toledo Blade reports.

The city of Toledo received $2.9 million in tax revenue from the state's casinos last year, falling short of the $3.4 million expectation. So far this year, it has brought in $1.4 million and estimates call for $4.95 million by year's end, according to the Blade.

Monthly revenue at Penn National Gaming Inc.'s (NASDAQ:PENN) Toledo casino has spanned from a $20.4 million pull in June 2012, its first full month, to a low of $13.6 million in November.
Hollywood Casino Toledo launched its outdoor summer concert series Friday.


Morning Call is compiled from news reports originated by other media organizations and Columbus Business First staff.

http://www.bizjournals.com/columbus/morning_call/2013/05/toledo-casino-marks-one-year-revenues.html

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