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Ohio gambling rollout drops revenues in neighboring states, Scott Van Voorhis, GamblingCompliance

From Michigan to Pennsylvania, casinos are reporting a drop in revenue since Ohio’s first two casinos opened roughly three months ago in Cleveland and Toledo. More competition is on the way, with new casinos in Columbus and Cincinnati poised to open up in the coming months. Not to mention a bevy of new racetrack slot halls as well.

 

Not surprisingly, casinos closest to Ohio’s new gambling venues are taking the biggest hits.

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Ohio Casino Commission Nears Licensing Finish Line, Scott Van Voorhis

Ohio regulators are poised to hand out the state’s first casino license this week for a Cleveland gambling complex, capping a jam-packed and at times contentious four-month background review of the $350m project’s investors.

 

Ohio regulators are poised to hand out the state’s first casino license this week for a Cleveland gambling complex, capping a jam-packed and at times contentious four-month background review of the $350m project’s investors.


The Ohio Casino Control Commission is expected to give the green light for a casino license to Caesars Entertainment and its local partner, Rock Gaming, when it meets on Wednesday.

 

That vote, in turn, would pave the way for a planned grand opening on May 14.

 

“When you try and take a nine- to 12-month process and turn it into a four-month process, you need to have the cooperation we have had from other states,” said Matt Schuler, the Ohio commission’s executive director.

 

Still, the report raised questions about the stability of Caesars’ finances, pointing to its $22.6bn debt load, but concluded weakness on one side of the ledger would be balanced by the financial strength of Dan Gilbert, the billionaire owner of the Quicken Loans empire, who also owns Rock Gaming and the Cleveland Cavaliers.

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Penn National net income down 12%, Howard Stutz Casino City Times

Penn, which owns the M Resort, said Tuesday its net income for the quarter that ended June 30 was $66.7 million, down 12 percent from $76 million in the same quarter a year ago. Penn's earnings per share was 63 cents, compared with 71 cents in the same quarter of 2011. Penn's overall revenues were $712.6 million, compared with $687.9 million a year ago.

 

Most of the attention on Penn centered around Ohio. The company opened the Hollywood Casino Toledo at the end of May and announced its Hollywood Columbus Casino would open in early October. The company will also spend $275 million apiece to move two Ohio racetrack casinos to new locations in Austintown and Dayton, which are anticipated to open in 2014.

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Aristocrat & GameAccount powers first integrated casino, Gaming Intelligence

Myliveonlinecasino.com is a free-to-play website that allows customer to play slots games, win virtual credits, compete in online tournaments, as well as sign-up for the casino’s Live! Rewards players card.

 

Developed in association with Aristocrat Technologies and its partner GameAccount, the site claims to be the first play-for-fun online gaming environment to be branded and integrated with an existing gaming property's casino management system.

 

Aristocrat has subsequently signed two further deals with U.S casinos to launch play-for-fun online casino operations – Michigan-based Island Resort & Casino and Scioto Down Casino & Racetrack in Columbus, Ohio.

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