Ohio Casinos Take A Dive In April

The Ohio Casino Control Commission has released its gambling figures for April, revealing the state’s four casinos generated $69 million in revenues, down compared with the same month last year and around $10 million less than the $79.59 million taken in March. The Buckeye State subsequently collected around one-third of that total in the form of taxes, which was then distributed to Ohio’s 88 counties.
Commenting on the latest figures, Steve Gallaway from Gaming Market Advisors, said: “Consumer confidence often tracks with gaming revenue as consumers will spend more if they have more confidence in our economy.”
In April, the Horseshoe Cincinnati Casino took in $16.7 million, down 11% compared to the $21.25 million generated in March; the Hollywood Casino Columbus took in $17.4 million, down 16% on the previous month; the Horseshoe Cleveland reported 11.5% less revenues at $18.8 million; while the Hollywood Casino Toledo experienced the smallest decline in growth, down by 7.5% to $16.1 million.
In terms of the state’s four racinos, revenues reached $47.3 million in April, over double that recorded a year earlier. Hard Rock Rocksino Northfield Park generated $14.6 million in April, down $1.2 million compared to March; the ThistleDown Racino saw $100,000 less revenues at $10.5 million; Miami Valley Gaming racino was down by $1 million at $10.6 million; and Scioto Downs earnings fell to $11.5 million in April from the $12.7 million it took in March.
Commenting on the future potential of its operation, Scioto Downs spokeswoman Ashley Redmon, said: “We have over 300,000 names in our database now. We’ve definitely learned more and more about our customers, and we’re doing more event-driven promotions to get people to come in and check us out.”
Ohio’s racino market, however, will experience further competition soon as the new Belterra Park opened its doors on May 1st, while an additional two racinos are schedules to open up by the year’s end, including the Hollywood Gaming at Mahoning Valley Racecourse and Hollywood Gaming at Dayton Raceway.
Consequently, Ohio’s gambling market will undergo a transformation over the next few months with a clearer picture of its true potential not likely to be realized until more than a year from now. As former casino executive and assistant professor of restaurant, hotel and tourism at Ohio University, Alan Silver, explains:
“Any business takes a number of years to develop loyalty programs and customers. Month-to-month comparisons are harsh.”