In October, Ohio’s casinos and racinos showcased their resilience in the face of challenges. Despite a slight dip from last year, the 11 gambling facilities brought in $192.1 million in revenue, indicating a steady recovery from the pandemic’s impact. The gambling industry is set to experience an even more significant transformation with the launch of sports betting on January 1, 2023.
Casino Revenue:
The four casinos in Ohio played a significant role in the state’s gambling revenue surge. Combined, they amassed $83.1 million in October, marking a notable $2.1 million increase from the previous year and an impressive $15 million gain compared to pre-pandemic 2019. Hollywood Columbus emerged as the frontrunner with $23.7 million, closely followed by Jack Cleveland Casino at $21.2 million. Hard Rock Casino Cincinnati and Hollywood Toledo also contributed substantially with revenues of $20 million and $18 million, respectively.
Racino Revenue:
Racinos demonstrated their continued popularity in Ohio’s gambling scene. Although October 2021’s revenue slightly outpaced this year’s figures by $2.7 million, the overall gain compared to 2019 stood at a remarkable $18.7 million. Leading the pack was MGM Northfield Park, securing $23.3 million in revenue. Scioto Downs claimed the second spot with $19.2 million, while Miami Valley Gaming and JACK Thistledown Racino contributed $18.8 million and $14.6 million, respectively. Additionally, Hollywood Mahoning Valley, Hollywood Dayton, and Belterra Park generated a combined $32.9 million in revenue.
Year-to-Date Performance:
Despite challenges in the past year, Ohio’s gambling revenue exhibited resilience, boasting a 1.1 percent year-over-year increase in 2022. The consistent growth indicates a promising trajectory for the industry, and both casinos and racinos may still surpass previous yearly records.
Sports Betting Launch:
Ohio’s gaming landscape is on the cusp of its most significant expansion yet, with the eagerly anticipated launch of sports betting on January 1, 2023. Governor Mike DeWine’s approval of House Bill 29 paved the way for sports betting in the state, promising an unprecedented opportunity for the gambling sector. The Ohio Casino Control Commission’s executive director, Matt Schuler, expressed excitement, calling the event the “largest ever simultaneous launch of sports gaming in the United States.”
The gambling industry in Ohio has demonstrated remarkable resilience and growth, bouncing back from pandemic-induced challenges. The combined efforts of the four casinos and seven racinos have contributed to the state’s robust gambling revenue, which reached $192.1 million in October. The forthcoming launch of sports betting promises to revolutionize the gaming landscape and propel the industry to even greater heights. As Ohio embraces this exciting new era, the prospects for the gambling sector look brighter than ever.