Ohio Casinos and Racinos Experience Record November, Revenue Tops $186.1M
Posted on: January 3, 2024, 03:52h.
Last updated on: January 3, 2024, 04:02h.
Ohio’s gross gaming revenue (GGR) from slot machines and table games topped $186.1 million in November, a record high for the month.
Ohio is home to four casinos that operate slots and table games, and seven racinos that operate only slots. Technically, the racino machines are video lottery terminals (VLTs) operated on behalf of the Ohio Lottery.
November win of $186.1 million topped the previous best November on record of $183.6 million reached in 2022.
The four casinos, Jack Cleveland, Hollywood Toledo, Hollywood Columbus, and Hard Rock Cincinnati, won $80.4 million. The four casinos collectively operated 6,127 slot machines and 363 table games during the month. November’s revenue represented a more than 2% year-over-year premium.
The racinos’ 10,312 video lottery terminals won nearly $105.7 million, a less than 1% improvement from November 2022. The month also marked the fourth consecutive month-to-month VLT win decline from July when the racinos won more than $117.5 million.
Casino Record Possible
With a month of gaming revenue still to report and the Ohio Casino Control Commission expected to unveil December casino numbers later this month, the industry is poised to set yet another annual win record. The four casinos won a record $1.005 billion in 2022.
Through 11 months, casino revenue totaled $923.22 million. If the casinos won around the same amount last month that they did in December 2022, $83.8 million, the industry will likely break the 2022 GGR record.
From January through November 2023, Hollywood Columbus led the four-casino market with approximately $247.9 million in revenue from its slots and tables. Jack Cleveland was a close second at $243.6 million. Hard Rock Cincinnati won $227.3 million from players and Hollywood Toledo kept $204.4 million of the bets.
VLTs are regulated by the Ohio Lottery. During the state’s 2023 fiscal year (July ’22 through June ’23), gaming revenue totaled $1.34 billion, a 1.75% gain from 2022.
Through five months of the 2024 fiscal year, VLT revenue totaled $552.9 million, a slight uptick from the $550.9 million that the racinos won during the same five months in FY23.
Strong First Sports Betting Year
Ohioans had a new legal way to gamble in 2023 with the introduction of sports betting. On Jan. 1, 2023, 13 retail sportsbooks and 16 online sportsbooks began taking bets.
It was a wildly successful first year for the sports betting industry.
According to the state gaming regulator, Ohioans wagered nearly $6.83 billion on sports through November. Of the money bet, $6.6 billion, or about 97%, was facilitated via the internet.
Online action was naturally responsible for the vast majority of the sportsbook revenue. Online sportsbooks won about $827.7 million during the 11 months, while retail oddsmakers generated win of just $20.2 million.
ESPN Bet, Penn Entertainment’s new sportsbook after ditching Barstool Sports, has quickly amassed considerable market share in the Buckeye State. Through its partnership with Hollywood Columbus, ESPN Bet launched in Ohio on November 14.
In just a little more than two weeks of operation, the online sportsbook took in more than $70.8 million in bets, though $29 million of that was promotional money. The book reported revenue of $12 million.
Source: casino.org
