The Hollywood Gaming racino in north Dayton is getting closer to its opening day. Parent company Penn National spent around $6 million on cleanup of the old Delphi plant site, and now a new building, a racetrack, and almost 2000 parking spots are going in at the corner of Needmore and Wagner Ford roads.
Ohio casino revenue numbers are out for the month of May, and month-to-month revenues are up for the state’s four casinos. But with a new racino on the way, there’s growing competition for those gambling dollars in southwest Ohio.
About 20,000 people are expected to descend on Ohio’s newest racino Thursday. The new gaming facility in Turtlecreek Township is expected to be a boon to the local economy.
Warren County Economic Development Director, Martin Russell, says Miami Valley Gaming’s new $175 million dollar racino means big revenue for the county.
“I think that when you talk about jobs, you talk about capital investment, you talk about bringing in more people inside of Warren County...this is going to really broaden our economic base," said Russell.
Gov. John Kasich's budget proposal suggests that revenue from Ohio's four voter-approved casinos could be about half of what officials had predicted years ago.
The Cleveland Plain Dealer reports that state officials estimated four years ago that the casinos could take in as much as $1.9 billion a year after all were in operation.
But Kasich's budget proposal issued Tuesday projects that gross casino revenue will be $957.7 million for the fiscal year beginning July 1. It could rise to just over $1 billion in the following fiscal year.
The state says Ohio schools are getting nearly $38 million in the first chunk of casino-tax revenue.
This is the first distribution to schools since casinos opened last year. The money is distributed on a per-pupil basis twice per year to more than 1,000 school districts and charter schools across Ohio. It works out to $20.93 for each of the roughly 1.8 million students.
The breakdown was announced Tuesday but the Ohio Department of Taxation. Schools receive 34 percent of the revenue, with 51 percent going to county government.