Ohio casinos enjoyed month over month revenue growth in December and January, but that trend came to an end in February.
Revenue was down 4% from the previous month, totaling $82,598,516 between Ohio’s four casinos. Ohio’s racinos, which feature horse racing, are not included in these figures.
The small decrease — in a month that is typically among the slowest for casinos — does not signify a downward turn in overall revenues. In addition to the two consecutive months of revenue increases, February revenue increased almost 10% over the same month last year.
- Feb. 2023: $82,598,516
- Jan. 2023: $86,070,358
- Feb 2022: $75,266,067
Ohio casinos hit over $1 billion in revenue in 2022, setting a new record for the state. That yearly total was only slightly above 2021. This year, a strong start suggests that 2023 will be another record-breaking year for casino revenues.
Hollywood Toledo held steady in February while other casinos slumped
Every casino brought in less revenue in February than in January. Hollywood Toledo saw the smallest drop, coming within $100,000 of last month’s revenue. This could be a sign of health for Ohio’s casino with the smallest market share. The next-largest casino, Hard Rock Cincinnati, brought in over $1 million more, so Toledo will remain on the bottom of the list for the foreseeable future.
All of Ohio’s casinos saw significant revenue increases compared to last February.
Ohio casino revenue (millions)
|Casino||February 2023||February 2022||January 2023|
|Hard Rock Cincinnati||$19.8||$18.7||$21.7|
Ohio sports betting aiding casino revenue
Ohio casinos launched sports betting in January, a feature that likely brought in additional foot traffic. Casino revenues in January likely benefited the most from the addition of sports betting, due to promotions and a plethora of NFL playoff games that month. Ohio’s sports betting revenues in January were an all-time monthly high for any state so far in the U.S.
Sports bettors in Ohio wagered 42.6% less money in February. February sports betting revenue numbers paled in comparison to January’s, but the casinos don’t get much of a boost directly from sports betting. Online sportsbooks in the state take in most of the revenue. In February, Ohio’s 17 online sportsbooks made 99% of the $82.8 million monthly revenue.
Retail sportsbook locations are now open at Ohio’s casinos. While the casinos only get a tiny slice of the sports betting revenue pie, offering a unique experience to draw more guests bolsters the bottom line in other ways.