January did not provide the start that Ohio casinos hoped for in 2024.
The Buckeye State’s four casinos reported $75.2 million in total revenue for the month. This number represents a 12.6% year-over-year decline and an 18% month-over-month decline.
Even more painful, Ohio casinos reported their lowest monthly revenue totals in nearly three years. The $67.6 million in February 2021 was the only monthly report with worse results.
The disappointing report comes as lawmakers discuss the possibility of legalizing Ohio online casinos. Just last week, stakeholders testified in front of lawmakers and legislators to support the industry.
Jack Cleveland posts highest totals, despite lowest slot revenue
Jack Cleveland Casino had the highest revenue of all Ohio casinos, with $21.2 million, as reported by the Ohio Casino Control Commission. This came despite reporting only $11.5 million in slot machine revenue, the lowest in the state.
Table games carried Jack Casino, accounting for 46% of its revenue with almost $9.7 million. As a result, Jack outpaced Hollywood Casino Columbus ($19.7 million) for the second consecutive month.
Hard Rock Cincinnati Casino ($17.8 million) and Hollywood Casino Toledo ($16.5 million) finished in third and fourth, respectively.
| Casino | Table Game Revenue | Slot Machine Revenue | Total Revenue |
|---|---|---|---|
| Jack Cleveland | $9,652,115 | $11,509,682 | $21,161,797 |
| Hollywood Columbus | $4,097,094 | $15,631,019 | $19,728,113 |
| Hard Rock Cincinnati | $5,698,163 | $12,105,967 | $17,804,130 |
| Hollywood Toledo | $2,791,492 | $13,745,850 | $16,537,342 |
| TOTALS | $22,238,864 | $52,992,518 | $75,231,382 |
Slots and table games both struggle
Slot revenue, which represents the majority of casinos’ bottom lines, accounted for $53 million of January’s revenue. Ohio casinos have not seen a number lower since the $52.8 million they posted in February 2022.
Table games fared no better. The $22.2 million table game revenue was the second-lowest since February 2021. Only October 2021 ($21.4 million) was worse.
Can OH casinos turn it around?
Ohio casinos have routinely produced year-over-year revenue increases, barring the 2020 pandemic. However, they needed a strong December to continue that trend in 2023, with $91.7 million marking the second-best month of the year.
Casino revenue since 2016:
- 2023: $1.015 billion
- 2022: $1.005 billion
- 2021: $983.7 million
- 2020: $643.4 million
- 2019: $851 million
- 2018: $837.5 million
- 2017: $819 million
- 2016: $797.9 million
Outside of 2020, the last time Ohio casinos posted YoY losses was in 2016. Casinos made $812.3 million in 2015.
Unless things turn around, that streak will end this year.
