Hollywood Casino in Toledo, Oh.
(Toledo, Oh.) - Another competitor for Indiana’s casinos has opened in Toledo, Ohio.
The Hollywood Casino in Toledo welcomed gamblers for the first time on Tuesday. Just like Hollywood Casino in Lawrenceburg, the new casino is owned by Penn National Gaming. It features interiors very similar to the Lawrenceburg riverboat as well as like-named restaurants.
Toledo’s casino is the second of four casinos slated for Ohio after voters approved a constitutional amendment in 2009.
The new Hollywood Casino will directly compete with three casinos located one hour away in Detroit.
Another gaming facility planning to open in early 2013 will more directly compete with Indiana, namely the three riverboats in Dearborn, Ohio, and Switzerland counties. The $400 million Cincinnati Horseshoe Casino could take $181 million in revenues and $57.4 million in taxes – about 25 percent decreases – from Hollywood Casino, Grand Victoria Casino, and Belterra Casino Resort & Spa in the first year, according to a 2009 study by Spectrum Gaming Group.
Indiana is estimated to lose as much as $100 million in tax revenue in the first year after all four of Ohio’s casinos are open. Casino gaming is Indiana’s third largest source of tax revenue behind sales and income taxes.