Ohio casinos and racetracks hit record high in November sales at $186.1 million
Ohio’s gross gaming revenue (GGR) from slot machines and table games topped $186.1 million in November, a record high for the month.
Ohio has four casinos that offer slot machines and table games, and seven racetracks that only operate slot machines. Technically, Speedway Machines are Video Lottery Terminals (VLTs) operated on behalf of the Ohio Lottery.
Profit in November was $186.1 million, surpassing the previous record profit of $183.6 million in November 2022.
Four casinos, Jack Cleveland, Hollywood Toledo, Hollywood Columbus and Hard Rock Cincinnati, won $80.4 million. The four casinos are operating a combined 6,127 slot machines and 363 gaming tables this month. November earnings represented a more than 2% premium over the previous year.
Racinos won nearly $105.7 million across 10,312 video lottery terminals, an increase of less than 1% compared to November 2022. This month also marks the fourth month that VLT bonuses have declined compared to the same period last year. In July, more than $117.5 million was won at racetrack casinos.
Casino recording is possible
With another month of gaming revenue remaining, the Ohio Casino Control Commission is expected to release December casino data later this month, putting the industry on track for another annual profit record. These four casinos won a record $1.005 billion in 2022.
In 11 months, casino revenue totaled $923.22 million. If casinos won roughly the same amount last month as they did in December 2022 ($83.8 million), the industry could beat the 2022 GGR record.
From January through November 2023, Hollywood Columbus is the four-casino market leader with approximately $247.9 million in slot machine and table gaming revenue. Jack Cleveland followed with $243.6 million. Hard Rock Club Cincinnati won $227.3 million from players and Hollywood Toledo took in $204.4 million in bets.
VLT is regulated by the Ohio Lottery. In the state's fiscal year 2023 (July 22 to June 23), gaming revenue totaled $1.34 billion, an increase of 1.75% from 2022.
VLT revenue totaled $552.9 million for the five months of fiscal 2024, up slightly from the $550.9 million Racinos earned in the same five months of fiscal 2023.
Strong first year for sports betting
Ohioans have a new legal way to gamble in 2023 with the introduction of Sports Betting. On January 1, 2023, 13 retail sportsbooks and 16 online sportsbooks began accepting bets.
It’s been a very successful first year for the Sports Betting Industry.
As of November, Ohioans bet nearly $6.83 billion on sporting events, according to state gambling regulators. Of the cash wagers, $6.6 billion (about 97%) was made via the Internet.
Online activities naturally account for the vast majority of sports betting revenue. Online sports betting won around $827.7 million in 11 months, while retail bookmakers made just $20.2 million in profits.
ESPN Bet, the new sportsbook launched after Penn Entertainment left Barstool Sports, has quickly gained significant market share in the Buckeye State.ESPN Bet launches in Ohio on November 14th in partnership with Hollywood Columbus.
In just over two weeks of operation, the online sportsbook operator has generated more than $70.8 million in wagers, $29 million of which was advertising. The book grossed $12 million at the box office.
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Source: www.casino.org
