May numbers mixed for Horseshoe Casino, but combined with ThistleDown northeast Ohio market grows
John Kosich, newsnet5.com
2:29 PM, Jun 7, 2013
3:12 PM, Jun 7, 2013
CLEVELAND - The Horseshoe Casino Cleveland threw itself a month long birthday party in May, the birthday envelopes though were a little light.
The casino posted Friday adjusted gross revenue, winnings after all bets are paid, of $20 million in May, that's up less than one percent over April's $19.9 million.
The casino took in $8.47 million of that from table games, up 6.8 percent over April's $7.9 million. Slots revenue actually down 3.3 percent from April with the $11.58 million take the lowest monthly total since the casino opened.
There is no panic on Public Square, though, as the numbers show many of Horseshoe's slots customers made their way east to its sister property, ThistleDown Racino, which posted its own gross revenue numbers for May.
In its first full month, ThistleDown almost equaled the Horseshoe's slots figure with $10.96 million. The Horseshoe has 1,846 slot machines compared to ThistleDown's 1,099 video lottery terminals or VLTs.
That means the good news for Rock Ohio Caesars, owner operators of both properties, is the combined slots take of Horseshoe and ThistleDown was $22.5 million, which is 21.6 percent higher than the Horseshoe's biggest slots month, $18.5 million in June 2012.
ThistleDown posted a remarkable average win per day, per machine of $322 compared to the $177 posted by Scioto Downs Racino, which posted May revenue numbers of $7.7 million.
Horseshoe's slots revenue was the lowest of the state's four casinos, though they continued to lead all Ohio casinos in gross revenue, a title it's held since it became the first casino to open its doors one year ago.
Horseshoe Cincinnati posted the second highest amount with revenue of $19.6 million followed by Hollywood Columbus at $16.7 million and Hollywood Toledo with $15.7 million.