Ohio Casinos Down 1% to $63M in JanuaryFebruary 13, 2018 12:18 pm
In 2017, Ohio’s four casinos saw their revenues increase by 2.6% compared to a 7.1% gain for its racinos, with gaming experts attributing the racinos’ popularity to their advantageous suburban locations, easier parking, and safer environments.
The situation was subsequently highlighted in the recent financial report for January released by the Ohio Casino Control Commission, which revealed a 1% drop in casino revenues to $63 million compared to the $63.9 collected in the same month in 2017. That figure was also down by 10% versus December’s revenue total of $70.1 million. Meanwhile, Ohio’s seven racinos were in sturdier shape and in January generated revenues of $73.1 million, up by 2.6% compared to the same month in 2017.
Annual Casino Revenue Results:
Jack Cleveland Casino: $201.4m (2017) $203.6m (2016)
Jack Cincinnati Casino: $198m (2017), $189.2m (2016)
Hollywood Casino Columbus: $221m (2017), $213m (2016)
Hollywood Casino Toledo: $198.6m (2017), $191.6m (2016).
Posting the biggest year-on-year decline in January was the Jack Cincinnati Casino, whose revenue dropped by 10% to $14.6 million, as well as by 17% versus the $17.5 million collected in December 2017. Commenting upon January’s result, General Manager Chad Barnhill said that the new sidebet action introduced by the casino combined with a luckier month for its patrons accounted for the sharp decline in revenues.
“We had a few big winners, actually,” explained Barnhill. “We had some folks that came in and went on a great run but.. a lot of these new side bets allow players to win.. upwards to 10, 15 thousand dollars at a time. We had some of those hit as well. It’s always fun to see our guests playing the side bets.”
Next, the Hollywood Casino Columbus saw its business fall by 2% to $17.4 million last month, and by 9% from the $18.7 million taken in the previous month; while Hollywood Casino Toledo noted a slight 1% decline to $14.9 million, and a 9% drop from the $16.5 million generated in December.
Bucking the negative trend, however, was Jack Casino which saw its revenue soar by 9% to $16.5 million in January. Nevertheless, that amount was still lower by 6% from the $17.5 million posted a month earlier.