The Ohio Lottery Commission this week reported good news for racino revenues in the state. January revenue from Ohio’s seven racinos hit $110.8 million, showing both year-over-year and month-over-month growth.
The increased revenue is a promising sign for the industry after the 2022 year-end numbers only slightly outpaced the previous year’s.
Ohio racino revenue grew almost 16% year-over-year
January is typically among the slowest months for racinos, so the numbers reported on Feb. 7 are particularly reassuring. Statewide, racinos took in over $15 million more than the same month in 2021. That’s an increase of 15.9%.
Ohio racino total revenues:
- Jan. 2023: $110.8 million
- Dec. 2022: $109.2 million
- Jan. 2022: $95.6 million
Compared to December, revenues came in $1.6 million higher, an increase of 1.4%.
Last month’s Ohio racino revenue report was less rosy in terms of year-over-year comparison. December 2022 revenues showed a YoY decrease of 2.7%. Still, January marked the third month in a row of revenue increases.
Most Ohio racinos held steady with small growth
MGM Northfield Park and Miami Valley Gaming brought in the most revenue in January. The two also showed the most YoY growth, increasing their January revenue by about $4 million each.
Compared to the previous month, every Ohio racino posted small revenue increases except Scioto Downs Racino, which fell back about $0.4 million from December’s total. That puts Scioto back in the No. 3 spot for the month, behind Miami Valley Gaming, which matched Scioto’s December numbers.
Ohio racino YoY and MoM revenue:
|Jan. 2023||Dec. 2022||Jan. 2022|
|MGM Northfield Park||$24.40||$24.20||$20.20|
|Miami Valley Gaming||$19.40||$19.30||$15.60|
|Eldorado Scioto Downs||$19.00||$19.40||$17.30|
|Hollywood Mahoning Valley||$13.60||$13.20||$11.20|
Did casino revenues enjoy the same January boost?
January numbers for Ohio’s casinos haven’t been reported yet, as the Ohio Casino Control Commission recently moved the reporting date to the end of the month. Casinos differ from racinos in that they offer table games, no horse racing and are regulated by the OCCC.
Year-end revenues reported last month for Ohio’s casinos showed similar trends as racinos, narrowly outperforming their 2021 numbers. Still, 2022 set a record for casino revenue with just over $1 billion generated.
That report showed that three of Ohio’s four casinos posted year-over-year decreases in December. If casinos continue to follow the same trend as racinos, that should change with the next revenue report.
Every racino pulled off a year-over-year revenue increases for January, for a combined 15.9% jump. That statistic could be a bellwether for the casinos after three of the seven racinos posted decreases just a month ago. But we’ll have to wait for the next casino revenue report in a couple weeks to know for sure.
Sportsbooks on the way to Ohio casinos, racinos
Most Ohio racinos have been approved to add a brick-and-mortar sportsbook inside their locations. While the retail sportsbook market is only a small slice of the massive Ohio sports betting market, the additional amenities are expected to be a draw for Ohio’s casinos and racinos year-round.
The following sportsbooks have partnered with Ohio casinos and racinos to manage retail sportsbooks:
- JACK Cleveland Casino: BetJACK Sportsbook
- Hollywood Casino Toledo: Barstool Sportsbook
- Hollywood Casino Columbus: Barstool Sportsbook
- Hard Rock Casino Cincinnati: Hard Rock Sportsbook
- JACK Thistledown Racino: BetJACK Sportsbook
- MGM Northfield Park: BetMGM Sportsbook
- Scioto Downs: Caesars Sportsbook
- Miami Valley Gaming: MVGBet Sportsbook
- Hollywood Gaming at Dayton Raceway: Barstool Sportsbook
- Hollywood Gaming at Mahoning Valley: Barstool Sportsbook
- Belterra Park: FanDuel Sportsbook
Each of these sportsbook companies also operates an Ohio online sportsbook, which can be accessed anywhere in the state.