Ohio Racinos See Revenue Growth In OctoberThe Buckeye State's Casinos Stagnated Year-Over-Year |
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The Ohio casino gaming market brought in a total of $150 million in revenue in October, up 3.6 percent from the same period in 2017. The growth largely came in the ‘racino’ sector, with the state’s seven slot-only gaming establishments taking in $83.4 million in October. That figure represents a 6.6 percent increase over the $78.2 million in revenue taken in last year.
The Ohio Lottery Commission regulates the racinos, and one-third of the revenue from racino slot machines in the state goes to the OLC.
While the racinos saw year-over-year growth, the four full-fledged casinos in Ohio, which offer table games in addition to slot machines, took in $66.6 million, which was essentially unchanged from 2017. The casinos saw a decrease of 5.7 percent in table game revenue, with just shy of a 3 percent increase in slot revenue. The casinos are regulated by the state’s Casino Control Commission.
MGM Resorts International announced in September that the company would be taking over the Hard Rock Rocksino Northfield Park. The racino, situated between Cleveland and Akron, lead the state in gaming revenue for the month, taking in $20.9 million.
Belterra Park in Cincinnati was the racino that had the lowest numbers for October, with only $6.7 million in slot revenue for the month.
In May, the United States Supreme Court ruled that sports betting could be legalized on a state-by-state basis. Ohio was one of many states that saw its lawmakers put forth an effort to legalize sports betting. So far Delaware, New Jersey, Mississippi, West Virginia, New Mexico have joined Nevada in offering legalized sports betting, while Pennsylvania, Rhode Island, New York, and Arkansas have recently passed bills to allow sports betting.
In July Ohio’s lawmakers stated an intent to “develop and enact legislation legalizing sports wagering.” The bills put forth at that time lacked specifics and are currently not much more than placeholders. For now, legalized sports betting in the Buckeye State lacks a clear timeline.
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