Ohio Racino Revenue Continues Downward Trend In November

Written By C.J. Pierre on December 11, 2023 - Last Updated on December 13, 2023
A graph sloping downward for a story about declining Ohio racino revenue.

November saw the continuation of a downward trend trend for Ohio racinos. The state saw yet another dip in monthly racino revenue.

Unlike the traditional Ohio casinos, bettors can only play slot machines and wager on horse races at the Buckeye State’s seven racinos. Horse races can be wagered on through both live races and simulcast betting.

Another significant difference is that racinos are regulated by the Ohio Lottery Commission, not the Ohio Casino Control Commission.

According to numbers released by the Ohio Lottery, racinos won $105.6 million in November. The gross earnings stem from a betting handle of $1.1 billion. More importantly, it makes November the worst month of 2023 for the racinos.

Previously, October marked the low point of the year for the facilities when racinos won $108.4 million from gamblers. This means November’s revenue was over $2.7 million less than October’s. This also marks the fourth straight month racino revenues have dropped from the month prior.

Ohio racino revenue steadily moving downhill

The November 2023 Ohio racino revenue decline is becoming a pattern. The $105.6 million won by racinos in November is the lowest earning month of the year. Revenue hasn’t been this low since November 2022.

However, Ohio racinos avoided the kind of drop that happened last year. November 2023 saw a year-over-year increase in net winnings of over $717,000 compared to November 2022.

Last year, revenue started to increase after the November drop-off.

Will the same thing happen in 2023? That remains to be seen. Last year, Ohio racinos weren’t coming off four straight months of decreasing net winnings. Their betting handle also decreased each of the last four months.

Ohio Racino revenue comparison

Ohio RacinoNovember 2023 Net WinningsOctober 2023 Net WinningsNovember 2022 Net Winnings
MGM Northfield Park$23.6 Million$24.4 Million$22.9 Million
Miami Valley Gaming$19.1 Million$18.6 Million$18.4 Million
Eldorado Scioto Downs$16.9 Million$17.6 Million$18.3 Million
JACK Thistledown Racetrack$14.5 Million$14.6 Million$14.1 Million
Hollywood Mahoning Valley$12.5 Million$13.4 Million$12.6 Million
Hollywood Dayton$12.3 Million$12.7 Million$11.8 Million
Belterra Park$6.4 Million$6.8 Million$6.6 Million
Total$105.6 Million$108.4 Million$104.9 Million

Miami Valley Gaming was the only racino in the state to report an increase in revenue from October to November. The property won $19.1 million from gamblers in November, a 2.7% increase month-over-month.

Despite a decrease in monthly revenue, MGM Northfield Park was once again the highest-grossing racino in Ohio, winning $23.6 million from customers in November, which was 22.3% of the Ohio racino market share.

The rest of the racinos in Ohio all also saw dips in business, with the largest drop in revenue reported by Hollywood Gaming at Mahoning Valley Race Course, whose revenue declined by over $865,000.

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C.J. Pierre

C.J. Pierre is a Lead Writer at PlayOhio. He has been covering news and sports for over a decade for both online and TV broadcasts. He was born and raised in Minneapolis, MN and is an alum of Minnesota State University: Moorhead. He recently dove into tribal casino, sports betting and online gambling news. He also covered the launch of sports betting in Arizona. C.J. has experience as a reporter and videographer and has covered high school, college and professional sports throughout his career, most notably following Arizona Cardinals, Phoenix Suns, Minnesota Vikings and North Dakota State University football.

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