Ohio Casino revenue in March increased as expected over typically low February numbers, and the bounce back was big enough to surpass last March as the highest-earning month ever.
Ohio’s four casinos offer live table games in addition to slot machines. The state’s racinos, located at horse racing tracks, are regulated by the Ohio Lottery Commission and only feature slot gaming. Racino revenues are reported separately. Both types of casinos now offer sports betting in Ohio.
The new Adjusted Gross Revenue (AGR) record of $93,475,564 virtually matches last year’s March revenue for casinos, beating it out by only about $150,000 for a .16% increase. By contrast, in February Ohio’s casinos increased their year-over-year revenue by about 10%.
March is a high-gross month for Ohio casinos
Most years, March has been either the highest-grossing month or the second-highest. The March revenue figure could be the ceiling for 2023, but casinos also typically see high numbers in April. We’ll have to wait until the end of May to see if April sets the new record.
Ohio Casino Revenue
- March 2023: $93,475,564
- February 2023: $82,598,516
- March 2022: 93,323,613
January casino revenue recorded a 13.8% jump over the previous year, so even with the modest gain in March, Ohio’s casinos remain on track to beat the yearly revenue record that was set last year.
Two steps forward, two steps back for Ohio casinos
All four of Ohio’s casinos saw significant revenue increases over February, with Hollywood Columbus and Hard Rock Cincinnati taking the longest strides. All four casinos held their positions in the revenue ranking, but Hollywood Columbus is closing in on JACK Cleveland Casino for the top spot. Hollywood trailed JACK by only about $100k.
Columbus and Cincinnati’s casinos were the only two to achieve YoY increases, and they are significant. Hard Rock in Cincinnati brought in more than $1 million more than last March, and Hollywood Columbus increased by just under $1 million.
That means the two casinos on the top and bottom ends actually saw revenue decreases. Jack Cleveland nearly hit last year’s benchmark, but Hollywood Toledo’s revenue dipped by almost $2 million.
Ohio casino revenue March 2023 (millions)
| Casino | March 2023 | March 2022 | February 2023 |
|---|---|---|---|
| JACK Cleveland | $24.4 | $24.5 | $22.8 |
| Hollywood Columbus | $24.3 | $23.4 | $21.4 |
| Hard Rock Cincinnati | $24.0 | $22.9 | $19.8 |
| Hollywood Toledo | $20.7 | $22.5 | $18.6 |
| Total | $93.48 | $93.32 | $82.6 |
March racino revenues tell a similar story — on track to set new record
The Ohio Lottery Commission releases racino revenues earlier than the Ohio Casino Control Commission does for casinos. Ohio’s racinos also set a revenue record in March, but not by a lot. The previous racino record was set in April of 2021, and this year’s revenues were less than $1 million higher across the seven properties combined.
All but one of the racinos held pretty much steady YoY, recording slight increases or decreases in revenue. But Miami Valley Gaming, located between Cincinnati and Dayton, saw a revenue jump of $2 million over last March. Without that $2 million, the racinos would not have broken the record.
With gambling gaining popularity in Ohio and new monthly records being set, there’s a good chance retail gambling revenue records will continue to be set. Overall gambling revenue in the state has increased every year since 2012. Ohio’s racinos and casinos will likely continue that trend for the foreseeable future.
