Florida Slot Revenues Fall Over 7% Year-on-Year in September
The Florida Gaming Commission released a report on slot revenues state casinos generated during September 2024, revealing the Sunshine State’s licensed casinos collected more than $51.7 million in revenues during the month, a year-on-year drop of 7.3% from the $55.8 million posted in September 2023 and a 5.8% decrease from August 2024.
Most Casinos See Revenues Slip
The Florida Gaming Commission releases data from eight casinos in its monthly reports, but figures do not include every casino in the state as many casinos operate under tribal gaming compacts and do not need to declare revenues. Of the eight casinos included in the Florida Gaming Commission’s report, six posted a decrease in revenues.
The most significant drop for the month was shown by the state’s biggest revenue generator, Harrah’s Pompano Beach (listed as The Isle Casino & Racing at Pompano Park on the Commission’s report), which saw a revenue drop of around 16.6% year-on-year. That lost revenue amounted to 43% of the difference between September 2023 and 2024.
However, Harrah’s wasn’t the only casino that saw revenues drop significantly, with Magic City Casino and Calder Casino & Race Course posting revenue slips above 9%. Meanwhile, revenues also dropped at Casino Miami (8%), Hialeah Park Casino (3.9%), and The Casino at Dania Beach (2.6%).
| Casino | September 2023 | September 2024 | Change |
|---|---|---|---|
| Gulfstream Park Racing and Casino | $4,530,917 | $4,799,197 | +5.9% |
| Big Easy Casino | $2,864,170 | $2,976,643 | +3.9% |
| Harrah’s Pompano Beach | $10,649,950 | $8,884,754 | -16.6% |
| Gretna Racing D/B/A Magic City Casino | $10,195,387 | $9,244,275 | -9.3% |
| Calder Casino & Race Course | $7,881,759 | $7,163,800 | -9.1% |
| Casino Miami | $7,768,909 | $7,143,747 | -8.0% |
| Hialeah Park Casino | $8,152,526 | $7,833,868 | -3.9% |
| The Casino at Dania Beach | $3,757,114 | $3,658,948 | -2.6% |
| Total | $55,800,732 | $51,705,132 | -7.3% |
Not every Florida casino year-on-year revenue decreases, with Gulfstream Park Racing and Casino and Big Easy Casino bucking the state-wide trend. Gulfstream Park generated the most growth, bringing almost 6% more year-on-year. Meanwhile, Big Easy Casino also jumped up by 3.9%.
It’s worth noting that the disappointing numbers in September 2024 came despite over 100 slot machines being operational in the month compared to the previous year. The slip in revenues and machine increase meant that the average daily revenue per slot dropped from $278 in September 2023 to $248 the following year.
Commercial Casinos Struggling in the Face of Table Games for Tribal Casinos
The drop in slot revenues paints a bleak picture for Florida commercial casinos, especially considering other significant revenue drops as recently as July 2024. The financial year 2024/25 has started poorly for slot revenues, and part of that could be attributed to tribal casinos now offering table games.
Seminole Tribe casinos, including those operating under the Hard Rock brand, unveiled craps, roulette, and retail sports betting in March of this year. Since then, April, June, July, and September have all seen slot revenues drop at commercial casinos year-on-year.
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