July gave Ohio casinos and racinos a shot in the arm, but August revenue totals have leveled off in The Buckeye State.
Ohio casinos and racinos netted $195.9 million in the month of August. That’s down 5.2% from July’s $206.7 million and is only a hair (.8%) above August 2021’s revenue total of $194.27 million.
Ohio’s four casinos fared slightly better against their historical data than the seven racinos, but both groups will need a strong showing in the fall to outpace last year’s net revenues.
- January-August 2021 total revenue for casinos and racinos: $1.556 billion
- January-August 2022 total revenue for casinos and racinos: $1.575 billion
- Percent increase: 1.2%
After starting off strong from January to May, casino and racino revenue has beaten the 2021 numbers by less and less.
Despite Ohio casinos and racinos no longer appearing to outpace their 2021 totals, 2022 has been a very strong year in The Buckeye State for casino gaming, and it will undoubtedly close out as one of the strongest on record.
$1 Million the magic number for Ohio casinos in August
One million was the number for Ohio casinos in August. That was the rough amount all four dipped in revenue from last month.
Hollywood Toledo was the outlier, dropping $1.4 million in revenue from July. The other three – Jack Cleveland, Hollywood Columbus and Hard Rock Cincinnati – all came in at roughly $1 million under their totals from last month.
For the second month in a row, Hollywood Columbus was the state’s top earner.
The total August casino revenue came in at $84.2 million, 5% below July’s $88.7 million. Despite the downturn, August 2022 outpaced August 2021’s totals, coming in 2% better than last year.
The hot start to the year for Ohio gambling has worn off. Year-to-date totals for Ohio casinos show them still outperforming their 2021 totals, though the margin is slimming. Last month, the increase was a small 2.6%. This month, it’s a touch lower at 2.5%.
- January-August 2021 total revenue for Ohio casinos: $661.23 million
- January-August 2022 total revenue for Ohio casinos: $678.21 million
- Percent increase: 2.5%
|Casino||August 2022 Net Revenue (in millions)||July 2022 Net Revenue (in millions)||August 2021 Net Revenue (in millions)|
|Hard Rock Cincinnati||$21.2||$22.1||$19.9|
Racinos dip across the board
With the exception of Jack Thistletown holding steady, all Ohio racinos dipped more than $1 million below last month’s revenue totals.
Net revenue in August 2022 for Ohio racinos came in at $111.7 million, a 5.3% drop from last month’s $118 million but nearly on par with August 2021’s totals of $111.8 million.
MGM Northfield continues to outperform the other racinos in the state, but this month Jack Thistletown was the only Ohio racino to approach its strong showing from July 2022.
Compared to the revenue totals from 2021, August 2022 presented a mixed bag. MGM Northfield, Miami Valley Gaming and Eldorado Scioto Downs bettered their revenues from last year, while Jack Thistletown, both Hollywood racinos and Belterra Park thoroughbred racetrack all came in below last year’s totals.
August also represents the first month of 2022 where year-to-date revenue totals fell below 2021’s totals. The overall decrease follows the general trend of 2022 gaming revenue stabilizing and perhaps dipping below last year’s totals.
- January-August 2021 racino revenue totals: $111.8 million
- January-August 2022 racino revenue totals: $111.7 million
- Percent decrease: .8%
|Racino||August 2022 Net Revenue (in millions)||July 2022 Net Revenue (in millions)||August 2021 Net Revenue (in millions)|
|MGM Northfield Park||$24.2||$25.3||$23.3|
|Eldorado Scioto Downs||$19.8||$21.3||$19.7|
|Miami Valley Gaming||$19.1||$20.5||$17.9|
|JACK Thistledown Racetrack||$15.7||$15.8||$17.0|
|Hollywood Mahoning Valley||$13.0||$14.0||$13.4|
|Belterra Park Thoroughbred Track||$7.7||$8.3||$8.2|
OCCC is less than impressed with current pool of sports betting applicants
Turning to sports betting, the Ohio Casino Control Commission has expressed consternation over some of its sports betting applicants.
Legal sports betting in The Buckeye State goes live at midnight Jan. 1. With three months until launch, 33% of applicants have submitted incomplete applications.
In particular, The OCCC expressed dissatisfaction with the lack of ownership details and listing of key employees in some applications. Specific vendors were not mentioned.
The OCCC gave a final deadline of Oct. 5 to all applicants hoping to launch on New Year’s Day. Those who failed to meet this deadline, the OCCC suggested, would be left behind.