Ohio Casino Revenues Down 5% in NovemberDecember 12, 2016 2:21 pm
The Ohio Casino Control Commission has released its latest results for November, revealing a 5% decline in revenues to $61.16 million compared to the $64.6 million that was collected in the same month of 2015. From that tally, table games noted a slight 1.4% contraction in business to $21.2 million, whereas slot machine operations experienced a more significant 5.2% drop in revenues to $40.9 million.
Three of the state’s four casinos reported lower year-on-year revenues in November, headed by the Jack Cincinnati Casino which generated $15.3 million last month, down by 7% from last year. Next, the Hollywood Casino Columbus posted a 4% fall in revenues to $16.6 million, while the Jack Cleveland Casino also noted a 4% revenue decrease to $15.31 million.
Bucking the trend, however, was the Hollywood Casino Toledo which generated $14.4 million in November, representing a meager 1% improvement on the $14.3 million that the casino reported for the same month in 2015.
For the first 11 months of 2016, Ohio’s four casinos have now produced $731.6 million in revenues, lower by 1% from the same period of time last year. If December’s business subsequently equates to that of December 2015, then the state’s casinos would have generated around $803 million by the end of the year, down from the $812.3 million collected in 2015.
Still, that total would not be considered too disappointing considering the increased gambling competition Ohio has experienced from other states in recent years, including Indiana, Michigan, and Pennsylvania.
In the meantime, The Buckeye State’s racino industry fared considerably better than its casino counterpart in November, with revenues improving by 6.25% to $69.7 million from the $65.6 million in slots revenues that was collected last November.
Ohio’s racinos have now generated $819.9 million in revenues so far in 2016, and are currently on track to have a $900 million year. That figure is particularly impressive considering revenues have grown exponentially over the last few years from $249.3 million in 2013, to 2015’s total of $831.4 million. Commenting on the industry’s continuing success, Ohio Lottery Director Dennis Berg stated:
“We’ve seen growth in the market since 2014 when the last of the seven racinos opened. We’re pleased that the consumer market has embraced the facilities and the amenities they offer, and we look forward to continued growth in the future.”