How Horseshoe Cleveland’s numbers stack up to Atlantic City casinos

CLEVELAND - If the Horseshoe Casino Cleveland was plopped into the middle of the Atlantic City Boardwalk for the month of June, it’s numbers show that it would have been very competitive.

The Horseshoe’s gross casino win of $26.1 million for the month falls in between the June totals released Tuesday of Trump Taj Mahal $25.6 million and Bally’s AC $26.7 million.

Compared to all 12 casinos in Atlantic City the Horseshoe would have been fifth in gross revenue for the month with the Borgata leading the way with a win of $53.3 million, followed by Harrah’s $33.2 million, Caesars $31.9 million and Bally’s.

Interesting to note Harrah’s, Caesars and Bally’s are all owned by Caesars Entertainment the parent company of Horseshoe and partner with Dan Gilbert in Rock Ohio Caesars.

New Jersey’s tax rate on gross casino profits or money left after winnings are paid, is 10.5 percent compared to Ohio’s 33 percent. So while Atlantic City’s 12 casinos paid $18.6 million in taxes, Ohio’s two casinos paid almost as much $15.4 million for June.

Pennsylvania remains the tax revenue champ when it comes to casino dollars with its nation leading tax rate of 55 percent on gross casino revenue for slots, 16 percent for table games.

Pennsylvania’s eleven casinos take in more in tax revenue than Nevada’s 260 casinos do combined.