SEI Riverboats’ Ohio Competitor Celebrates 1st Year
By Mike Perleberg
(Cincinnati, Oh.) – Tuesday marks one year since a major shift in the tri-state casino gaming market took place.
The Horseshoe Casino in Cincinnati is celebrating its first year in business. It opened its doors to the public on March 4, 2013 and has been a top competitor for the region’s gaming dollars ever since.
The casino – with 2,000 slots and 88 table games – has generated more than $200 million in gaming revenue. Casino officials say the Horseshoe has attracted 4.8 million visitors in its first year, many of whom may have otherwise visited southeast Indiana’s three riverboats in Lawrenceburg, Rising Sun, and Switzerland County.
Combined revenues at Indiana competitors Hollywood Casino, Rising Star Casino Resort, and Belterra Casino Resort & Spa declined to $462.2 million in 2013, off 26 percent compared to 2012 figure. Hollywood Casino in Lawrenceburg had the biggest hit, seeing revenue slide 32 percent to $269.3 million.
While Hollywood Casino remained the region’s top revenue reporting casino in January, there have been a couple months over the past year where the casino in the Queen City has managed to slip into the number-one spot.
Horseshoe Casino plans to celebrate its first anniversary with a fireworks show Tuesday night at 9:00 p.m., in addition to various other anniversary events and specials.
First year numbers purported by Horseshoe Casino Cincinnati:
- More than 1,700 jobs created with 92 percent local hires.
- Payroll of $52.8 million.
- 250 third party casino jobs.
- $36 million in gaming tax revenue for city and county governments, including $13.4 million for Cincinnati area school districts as well as $4.82 million for Hamilton County.
The tri-state casino market will only become more saturated in 2014. Belterra Casino parent company Pinnacle Entertainment plans to open the renovated Belterra Park – formerly River Downs – horse racing track in eastern Hamilton County on May 1. The $200 million renovation will include 1,600 video slot machines, restaurants, and horse racing.