Ohio Gambling Revenue Sees Solid Increase in October
The 11 casinos and racinos operating in the state of Ohio have seen a nice uptick in gambling revenues for the month of October. The Ohio Lottery and Casino Control Commissions have reported that an increase of 5.7% was reported for October, when compared to the same month in 2018. Totals for October 2019 came in at $158.4 million.
Majority Sees Uptick
The majority of casinos operating in the state saw an increase in gambling revenues for October. The only property to decrease was the Hollywood Casino of Toledo. The casino dropped from $16.3 million to $16 million in total revenues as slots causing the decrease in earnings.
The MGM Northfield Park casino had a great month, the best one for the venue since they changed over from the Hard Rock Rocksino back in April. The casino saw an increase of 2.3% with $21.3 million in earnings for October.
Both the JACK properties of the state were in good standing as well, continuing to see increases this year, month after month. The JACK Thistledown Racino saw the largest increase between the two of 13.9% with $11.9 million generated. JACK Cleveland Casino earned $16.7 million which was an increase of 4.9%.
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The uptick for JACK comes at a time when the casinos owner has plans to sell the two properties for a combined $843 million. VICI Properties is the proposed buyer. Once the deal is done, the properties will have a new owner but the JACK brand will remain the operator based on a lease agreement.
The Hollywood Columbus had a great month in October, with a huge uptick in slot gaming revenues. In October 2018, the casino earned $12.6 million. Last month, the brand was up to $13.8 million. While the casino saw a nice increase in slot revenues, table games were down by close to $1 million.
Out of the seven racinos operating in the state, each one saw an increase in overall revenue numbers. October was busy for the facilities, which are allowed to offer chance-based slot machines. The overall slot revenue total for all the racinos combined came in at $90.3 million which is a slight increase from the $83.4 million of last October.
The biggest increase was seen at the Scioto Downs. The racino earned only $13.9 million in October 2018. This year, the month proved much more lucrative with $15.1 million in earnings. Miami Valley Gaming also saw a nice jump, going from $13.1 million to $14.3 million.
2019 has been a strong year for Ohio gaming operators and the potential for earnings can grow if the state legalizes sports betting. Currently, there are two bills up for consideration, both of which will legalize and regulate sports betting. For now, legislators do not seem to be on the same page and it will take some time before a bill will be passed into law.
However, with the casinos and racinos currently operating at high levels, the potential for even more earnings is clear. This may be the push legislators need to see a bill move forward.
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