Gross revenue at the Horseshoe Casino Cleveland was down 7.5 percent from August and revenue dropped 8 percent at the Hollywood Casino Toledo. Revenue at the Horseshoe has declined 19 percent since June and Hollywood has seen a 22 percent drop.
According to industry experts, these numbers should not be too alarming and the real test will be when the casinos will be able to compare revenues to the same month of a previous year.
“It takes a minimum of a year to establish what kind of revenue you’re going to have,” said Bob Tenebaum, a spokesman for Penn National Gaming,. “Your customer mix is constantly changing.”