Ohio Casinos Down 5.6% To $80m In March

According to the latest Ohio Lottery Commission report, the state’s four casinos generated $79.59 million in revenues for March, a 5.6% fall compared to the $84.29 million taken in the same month last year. Ohio’s four racinos, however, saw their revenues shoot up by 16.8% to $50.92 million, meaning the state’s gambling industry was up overall year-on-year.
Last month’s result, however, points to the fact that The Buckeye State’s four racinos are currently siphoning away revenue which had previously found their way into the casinos’ coffers.
Analyzing the figures further, Scioto Downs Casino & Racetrack reported an impressive 15.6% leap in revenues to $12.79 million, compared to February, and a 1.5% gain compared to March 2013. Signalling further growth ahead, Scioto Downs spokeswoman Ashley Redmon, commented:
“Being a new market, we didn’t have any numbers or statistics on players to work with. Now, we have a better read on our folks and have learned what promotions they really like and respond to, and we really push those promotions.”
Hollywood Casino Columbus generated 19.2% more revenue at $20.78 million compared to February, but fell 0.8% from a year ago. Commenting on the figures, Steve Gallaway from Gaming Market Advisors, said:
“When you have so much new competition come online and only experience a small revenue decline from the previous year, that shows a market which is not yet mature. I’d say there’s still significant potential for growth as we come out of the recession and the casinos learn to efficiently market to the residents of Ohio and the neighboring states.”
In March, Horseshoe Cleveland saw its revenues fall 13.2% to $21.26 million from the $24.50 million it took in March 2013; while Hollywood Casino Toledo was down by 2.2% to $17.4 million last month.
In terms of racinos, March’s tally may have been the highest yet recorded, but Maryland’s gambling market will soon be facing greater competition as Belterra Park is set to open on May 1st, while two more Hollywood Gaming racinos will open up towards the end of this year.
“The racing season at Dayton opens Oct. 3 and at Mahoning on Nov. 24. We’re hopeful the [slots] will open prior to the start of the racing seasons,” explained Hollywood spokesman Bob Tenenbaum.