Ohio Casinos and Racinos Report Slight Dip in July Gambling Revenue

As financial reports released by the Ohio Casino Control and Lottery commissions emerge, we learn that the state’s casinos and racinos experienced a minor setback in their gambling revenue for the month of July.

There has been a 2% decrease compared to the same period last year, meaning that

Ohio’s 11 casinos and racinos collectively generated $203.5 million in gambling revenue in July 2023.

A Minor Decline and Major Increase

As reported, the latest figures represent the total amount retained by the state’s establishments after payouts before state taxes and fees, signaling a modest decline from the $206.7 million they collected in July 2022.

Once you check the numbers again, Ohio’s gambling industry remains on a positive trajectory in the broader context of the year. Despite this month-over-month dip, the figures for 2023 show that the state’s gambling establishments have accumulated a total of $1.41 billion in gambling revenue.

This marks a noteworthyincrease compared to the $1.38 billion generated during the same seven-month period in the previous year. It’s also worth noting that these statistics exclude the revenue generated from newly legalized sports betting.

Breaking down the numbers further, the four casinos in Ohio – which are permitted to offer both slot machines and table games like blackjack – reported $86 million in gambling revenue for July. While this figure is slightly down from the $88.7 million collected in July 2022, it still reflects a substantial contribution to the state’s overall gambling revenue.

On the racino side of the equation, the state’s seven racinos, which can only offer slot machines and are typically located at horse racetracks, brought in $117.5 million in July 2023. This represents a slight decrease from the $118 million they recorded during the same period last year.

In the Greater Cleveland market, the individual performances of gambling establishments varied in July:

• MGM Northfield Park reported $26.9 million in revenue, a notable improvement from the $25.3 million earned in July 2022;

• JACK Thistledown Racino generated $16 million, a modest increase from the $15.8 million recorded the previous year;

• JACK Casino Cleveland, on the other hand, experienced a slight dip, reporting $22.1 million in revenue, down from $22.9 million in July 2022.

While July witnessed a minor downturn in gambling revenue for Ohio’s casinos and racinos, the industry’s overall performance remains robust, with year-to-date figures indicating growth.

The coming months will undoubtedly bring more opportunities for Ohio’s gambling establishments as they continue to navigate the dynamic landscape of the gaming industry.

Figures in Virginia Drop Below $300 Million

Meanwhile, the Virginia Lottery has also reported a notable dip in the state’s sports betting activity for the month of July, with a total handle of $293.6 million.

This figure represents an 8.8% decline from the previous month, signaling a temporary slowdown in the Virginia sports betting market.

Despite this setback, the state’s burgeoning sports betting industry continues to show promise, and experts are closely monitoring the factors contributing to this fluctuation in betting activity.

Source:

“Ohio’s casinos and racinos take in $203 million of gambling revenue in July”, cleveland.com, September 5th, 2023.