Ohio Casinos Generate $1.07bn In 2013

The Ohio Casino Control Commission has released its gambling results for December, revealing a 9.8% decline in revenues to $63.2 million at the state’s four casinos. The figure represents the lowest full-month tally with all four casinos open.
During December, Cincinnati reported a 19.1% fall in casino revenue; Cleveland was off by 9.6%; Columbus down 5.8%; and Toledo down 3.9%.
It is believed that Ohio’s casino revenues suffered as a result of a slow-down in spending during the pre-holiday period, as well as due to increased competition coming from the addition of more racinos in the state, with a further three more racinos slated to open up in 2014.
“This tallies with some of the earlier results. It looks like when you have more competition, you’ll see the existing places suffer,” commented David Schwartz, from the Center for Gaming Research at Nevada University.
This point was further highlighted by Ed Feigenbaum, editor of Indiana Gaming Insight, who explained that “Ohio (casinos) will face more internal competition from all the racinos that are opening.”
Overall, Ohio’s four casinos generated $821.28 million in revenue throughout 2013, while the state’s four racinos raked in a further $249.33 million. From that total, Ohio collected 33% in taxes, which were then distributed throughout its 88 counties.
Interestingly, the Midwestern state only opened its first casino back in 2012, and initial estimates at the time predicted Ohio’s four casinos would take in around $1.9 billion annually in revenue. Nevertheless, 2013 was still considered a successful year for Ohio’s casinos, as the gambling venues tried clawing their way out of the ongoing recession, as well as staving off increased competition, both domestically and across the state line.
As Bob Tenenbaum, spokesman for Hollywood Casino Columbus, explains: “We continue to be in the process of building this industry, and we continue to think this is a strong market, and as it develops, it will continue to improve.”