Ohio Casinos and Racinos Revenue Reaches $150M in October
The state of Ohio enjoyed a landmark month for gambling revenue according to the latest October reports from the Ohio Casino Control Commission.
Revenue, excluding horse racing, for the month was up 5.7% compared to October 2018 as the state’s 11 casinos and racinos generated $158.4 million. Racinos in particular did very well with an 8.3% increase in revenue from $83.4 million in October 2018 to $90.3 million this year.
MGM-owned Northfield Park remained the leading gaming facility in the state in revenue with its strongest month since rebranding from the Hard Rock Rocksino in the spring. The racino generated $21.3 million off purely slots in October which represented an increase of 2.3% from October 2018.
The top casino was the Hollywood Casino Columbus which generated $18.4 million to 2018’s $18.1 million.
In fact, every casino property in Ohio except the Hollywood Casino Toledo reported a rise in revenue.
Cleveland’s two JACK facilities showed growth which should please their new owners, VICI Properties. JACK Entertainment sold the Cleveland Casino and Thistledown Racino to VICI. The deal, worth around $843 million, is expected to be finalized in early 2020.
In October the JACK Cleveland Casino brought in $16.7 million in revenue, representing a 4.9% increase from a year ago, and lead the state in table games revenue. The JACK Thistledown Racino brought in $11.9 million for a 13.9% increase, the largest rise by a racino in the state.
The Miami Valley Gaming Racino generated $14.3 million compared to October 2018’s $13.1 million which is more good news for a facility due to undergo some major changes.
Located in Lebanon, near Cincinnati and Dayton, the racino is expected to undergo a $100-million expansion that is expected to generate 100 new permanent jobs. It will include a hotel, restaurant, new gaming machines and a new parking lot; the project is expected to be completed in early 2021.
Racinos Leading the Way
It has been a big year for racinos in Ohio as they, as a collective, surpassed the $1-billion plateau in revenue generated by video lottery terminals. They reported $1,058,638,754 in VLT revenue over a 12-month period last week.
Racinos are only allowed to offer these types of games alongside horse racing, but that hasn’t appeared to stifle their popularity in the slightest.
The $90 million generated by racinos, despite their limited gaming offerings, is substantially higher than the $68.1 million generated by full-fledged casinos in October. At the end of the day, it appears availability and the atmosphere of a day at the races is one that Ohioans seem to prefer.
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