Ohio casino tax revenue short of predictions - WFMJ.com News weather sports for Youngstown-Warren Ohio

Ohio casino tax revenue short of predictions

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COLUMBUS, Ohio (AP) - Ohio's casino tax revenue over the past year fell short of what state officials had predicted.

The state's four casinos generated $273.4 million in tax revenue in the fiscal year that ended in June. That was more than $36 million less than the state had predicted.

The Dayton Daily News reports that the state executive budget for the fiscal year estimated that casinos would bring in more than $309 million in tax revenue. The Department of Taxation said Thursday that the gambling revenue missed the target by nearly 12 percent.

The likely reason is competition: Five racinos have opened since casino gambling was introduced in Ohio in 2012, and two more are slated to open in the coming months.

Information from: Dayton Daily News, http://www.daytondailynews.com

Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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