Ohio casinos make November revenue gains; annual win record possible

Article by : Charles Perrin Jan 7, 2024

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Ohio’s casinos and racinos are trending in the right direction according to the November revenue results that were published.

The figures released by the Ohio Casino Control Commission and the Ohio Lottery indicated the state’s four casinos and seven racinos’ video lottery terminal (VLT) machines combined for gross gaming revenues (GGR) of $186.1 million in November 2023.

This represented a 1.3% increase, topping the previous best November on record (November 2022) where $183.6m was made in GGR.

The promising news, however, was offset by the fact revenues dipped by 0.9% compared to October 2023.

Although the racinos’ 10,312 VLTs won nearly $105.7m, this was less than a 1% uptick on figures unveiled for November 2022.

Perhaps more disconcertingly, the results marked the fourth month in a row where win rates at racinos declined. Indeed, July proved to be a high point for 2023 where racinos claimed more than $117.5m in winnings.

Assessing the broader casino picture, the four land-based establishments had a very respectable month, with two of them earning more revenue in both November 2023 and the previous November.

Hollywood Columbus was the most consistent performer across November 2023, experiencing a 2% improvement on October’s results and a 1.9% uptick on the showing for November 2022, generating $21.7m in revenues.

Drilled down further, Hollywood Columbus carved out $247.9m in revenue from January to November 2023 through slots and table games, ensuring its position as the state market leader.

Similarly, Hard Rock Cincinnati flexed its muscles for November 2023, reporting a 4.1% increase on October’s results by chalking up revenues of $19.7m, and this was 1.9% better than the revenues garnered for November 2022.

December’s results are still to be released, but the Ohio Casino Control Commission is expected to share these later this month.

However, it is possible Ohio could shatter the win record for 2022 which stands at $1.005 billion.

To achieve that, Ohio casinos would have to win roughly the same amount last month as they did in December 2022 ($83.8m).

This could prove to be the best calendar year for Ohio revenues, but there is still plenty of work to be done.

Casino apps remain on the agenda with Ohio yet to legalize them unlike neighboring states, such as Pennsylvania and Michigan.

This is likely to be a topic of conversation that will be raised in the February legislative meeting. If Ohio can get the ball rolling on the apps, then this could see the casino industry soar to new heights in the future.