Policy: Budgets & Deficits

Ohio casino tax revenue short of predictions

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News,Business,Taxes,Ohio,Budgets and Deficits

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 (http://bit.ly/1ne48Ey ) 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.

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

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