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Mon March 4, 2013
Indiana, Kentucky Brace for New Casino in Cincinnati
CINCINNATI - Officials in Indiana and Kentucky are bracing for a loss in tax revenue after Ohio's latest casino opens Monday in downtown Cincinnati.
Horseshoe Casino Cincinnati is all but guaranteed to dip into Indiana's casino revenues, which have been declining in the past few years.
Cincinnati's casino represents money that Kentucky could be, but isn't, making.
The casino will open Monday night after more than two years of construction. It's the last of four casinos in Ohio approved by voters in 2009.
Casinos in Cleveland, Toledo and Columbus have all opened over the past year. They have brought in nearly $404 million combined. About $133.2 million in taxes from that revenue has gone to Ohio schools, counties and cities.