Ohio Casinos Hitting Record Monthly Revenue and Racinos Are Raising

The four Ohio casinos posted sales records in July, grossing more than $ 86 million as they largely rebounded from coronavirus-related closings.

The seven Racinos in Buckeye state also rallied strongly in July, generating revenues of more than $ 95 million and sales of nearly $ 1 billion.

Together, the eleven facilities achieved combined sales of more than $ 181 million. This is one of the best months in the state’s eight year history of legal gaming on-site.

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The Ohio Casino Control Commission reported its numbers for July, the first full month since the coronavirus pandemic that forced the state’s four casinos to close in mid-March. The casinos – Hollywood Toledo, Jack Cleveland, Hollywood Columbus, and Hard Rock Cincinnati (amid a Jack Cincinnati rebranding) – reopened June 18.

In July, these four combined total sales of $ 86,047,151 (table games and slots), surpassing a record for more than seven years. In March 2013, the month Cincinnatis Casino opened, the state generated revenues of $ 84,287,426.

Hollywood Toledo’s $ 33.3 million revenue in July is the largest monthly sum ever for an Ohio casino, according to the Dayton Daily News. According to that report, Ohio Casino Control Commission spokeswoman Jessica Franks said Detroit’s casino closings likely contributed to Toledo’s record highs. Detroit’s three commercial casinos only reopened last week. The city is about a 90-minute drive from Toledo, but Toledo is very close to the Michigan border, so the people of southern Michigan may have decided to play in Toledo if they couldn’t in Detroit.

There was evidence that Ohio casinos could have an excellent July even if their June numbers came in. They only had part of a month to work with it, but even with reduced capacity thanks to new social distancing norms, the average daily turnover was the same as the full months before COVID-19 hit.

Racinos near record revenue, handle

The seven Racinos in Ohio didn’t quite hit record levels in terms of handle or sales, but they weren’t far off either, according to the Ohio Lottery monthly report. Belterra Park (Cincinnati), Eldorado Gaming Scioto Downs (Columbus), MGM Northfield, Hollywood Dayton, Hollywood Mahoning Valley (Youngstown), Jack Thistledown (Cleveland) and Miami Valley Gaming (Lebanon) together for USD 984,703,467 in the Video Lottery Terminal and $ 95,020,535 VLT Net Income.

Since starting operations in June 2012, the state’s racinos have managed a total of ten times more than $ 1 billion, with six of those months being in the 2019-20 fiscal year just ended. The record for net income is $ 103.1 million as of March 2019. The net profit in July 2020 was the fifth best ever.

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