Ohio racinos saw yet another dip in monthly revenue. In October, those facilities won $108.4 million from gamblers who played $1.2 billion in credits on VLT machines.
This marks the third straight month racino revenues have dropped from the month prior. Ohio racinos won $108.8 million from gamblers in September. That’s only a decrease of about $400,000. However, it is a sign of a developing trend.
Unlike the traditional Ohio casinos, the Buckeye state’s seven racinos only offer slot machines and horse racing through live racetracks and simulcast betting. Another major difference is that racinos are regulated by the Ohio Lottery Commission, not the Ohio Casino Control Commission.
Ohio racino revenue continues to fall
The October 2023 figure shows a consistent drop in Ohio racino revenue. The 108.4 million won by racinos in October is the lowest earning month of the year so far. It marks a $630,000 decrease in year-over-year net winnings. It is also the lowest earning month since November 2022.
Ohio racinos continued the downward revenue trend seen over the last two months. However, unlike the same seasonal trend we saw through the third quarter of last year, there was no upswing this October like we saw in 2022. The hope is that things will pick up around the holidays.
MGM Northfield Park rebounds
MGM Northfield Park was one of two Ohio racinos to report an increase in revenue from September to October. The property won $24.4 million from gamblers in October, a 7.1% increase month-over-month.
Northfield Park rebounded after a dip in September revenue following a cyberattack that targeted its parent company, MGM Resorts. The attack affected computer systems at all 19 of MGM’s United States properties, causing minor issues at the Cleveland area racino.
Hollywood Gaming at Mahoning Valley Race Course was the only other racino in the Buckeye state to see an increase in revenue over the past month. However, in this case, the increase was minuscule. The property won $13.4 million from gamblers in October, which was only a 1.9% increase from September’s $13.1 million.
The rest of the racinos in Ohio all saw dips in the business, with the biggest drop in revenue reported by Miami Valley Gaming, whose revenue declined by over $800,000.
Ohio Racino revenue comparison
|Ohio Racino||October 2023 Net Winnings||September 2023 Net Winnings||October 2022 Net Winnings|
|MGM Northfield Park||$24.4 Million||$22.8 Million||$23.3 Million|
|Miami Valley Gaming||$18.6 Million||$19.4 Million||$18.8 Million|
|Eldorado Scioto Downs||$17.6 Million||$18.2 Million||$19.2 Million|
|JACK Thistledown Racetrack||$14.6 Million||$15.4 Million||$14.6 Million|
|Hollywood Mahoning Valley||$13.4 Million||$13.2 Million||$13.9 Million|
|Hollywood Dayton||$12.7 Million||$12.9 Million||$12.4 Million|
|Belterra Park||$6.8 Million||$6.9 Million||$6.6 Million|
|Total||$108.4 Million||$108.8 Million||$109 million|