Horseshoe Casino Cleveland numbers down for August, falls behind Cincinnati as state's top earner
John Kosich, newsnet5.com
2:29 PM, Sep 9, 2013
8:50 PM, Sep 9, 2013
CLEVELAND - The Horseshoe Casino Cleveland has been the Ohio revenue leader since it opened its doors in May 2012. That streak ended Monday as August revenue figures were released.
The Horseshoe Cleveland posted revenue after all bets were paid of $18.9 million. It's the lowest full monthly total since it opened last year, a 4.8 percent drop over July and 17.2 percent dip of August 2012 when the casino brought in $22.8 million.
Horseshoe Cleveland was topped by its sister property Horseshoe Cincinnati, which brought in $19.2 million in August, the most in the state.
Horseshoe Cleveland Senior V.P. & General Manager's reaction? "Mixed to be frank."
Glover said the slots numbers were disappointing and the table game volume was at a near record, the problem for the casino those playing those games were luckier than normal in August with customers winning 85 percent compared to 81 percent in July.
"A good thing that people come in and have a great experience and are able to win while they're at it so we had strong table game volume and our hold relative to prior months is lower than what it typically is for table games," he said.
Statewide numbers for the four casinos combined were also down 1.6 percent from July to $70.8 million. The Hollywood Toledo was the only casino to post a gain in August over July with a 3 percent jump.
The Horseshoe Cleveland brought in $7 million in table games, down $1.1 million from July or 13.8 percent. Its slots revenue was up from July 1.5 percent to $11.88 million.
ThistleDown Racino continues to thrive in North Randall posting August adjusted gross revenue numbers of $11.8 million, its biggest monthly take since opening up over July's previous best by 3.5 percent.
ThistleDown's VLT take was only about $80,000 less than Horseshoe's slots revenue number, despite the fact that ThistleDown has 722 fewer machines.
Combined the Rock Ohio Caesars owned ThistleDown and Horseshoe Cleveland brought in nearly $23.7 million in VLT/Slots revenue. That beats the previous record combined slots take of $23.1 million in July.
"We look at ThistleDown and Horseshoe Cleveland in a combined effort for Northeast Ohio," said Glover. "So if you look year over year on that basis we've actually improved our circumstances so we're just happy that they are complimentary and that they're very different," he said adding the lure of the ability to use their Caesars Total Reward cards at either property remains a huge draw.
"It's in the suburban area so it plays to the convenience to those that are in the east suburbs that may venture to downtown only on a weekend and they have the convenience of going there Monday through Thursday," he said.
ThistleDown may be smaller than other facilities in Ohio and Pennsylvania but it continues to lead all establishments in its daily take per machine. In August ThistleDown brought in $338 per machine, per day.
That was the highest of any of the 18 casinos and racinos open in Ohio and Pennsylvania. Only one other casino, Sugarhouse in Philadelphia posted an August number over $300 coming in at $306.
By comparison Horseshoe Cleveland brought in $207 per machine, per day. Horseshoe Cincinnati came in at $230, Hollywood Toledo at $205 and Hollywood Columbus at $145. Scioto Downs, Ohio's only other racino open for business posted a daily take per machine in August of $170.