Ohio Sees Casino, Racino Revenues Dip in April

The JACK Casino in Cleveland was one of several casinos and racinos in Ohio that experienced a decrease in revenues compared to the same month in 2023. (Image: Mark Kanning/Alamy)

Ohio’s casinos and racinos saw revenues slide year-over-year in April, signaling a possible end to an upward trend that has lasted over a decade. 

The state’s 11 gaming venues reported total revenues of $200.1 million in April, down from $204.6 million in the same period last year, according to figures from the Ohio Lottery Commission and the Ohio Casino Control Commission. 

Ohio Casinos Falling Behind Record Pace

Overall, revenue at the four casinos and seven racinos is down for the first four months of 2024. Those venues have brought in $796.9 million compared to $816.2 million through April in 2023. 

That’s a relatively mild decline of about 2.4 percent year-over-year. But if that trend continues, it would mark a departure from the sustained growth Ohio’s casinos have seen in recent years. The state has broken its annual revenue records for casinos and racinos in 10 of the past 11 years, according to Cleveland.com. 

That includes a record $2.38 billion in combined revenue in 2023, up from $2.33 billion in 2022. These numbers do not include sports betting, which is tracked separately in Ohio. 

Both types of venues saw declines in April. The four true casinos were down 3.5 percent to $83.5 million in April, while the seven racinos, which offer video lottery terminals (VLTs), saw a slight drop of 1.3 percent to $116.6 million. 

Hollywood Up, Competition Down in April

While statewide revenues were down, there were a handful of venues that saw minimal growth during April, all of which shared the Hollywood brand. The Hollywood Columbus (+0.6%), Hollywood Toledo (+2.2%) Hollywood Mahoning Valley (+5.5%) and the Hollywood Dayton (+2.9%) all found success, despite the fact that all other venues were down year-over-year.

The hardest hit was felt by the Hard Rock Casino in Cincinnati, which saw revenues fall nearly 12 percent to $19.8 million. In March, Bloomburg News reported that MGM Resorts International was considering selling its Northfield Park location – which also saw revenues decline by 0.5 percent in April – as well as its Springfield, Massachusetts casino.

Ohio also reported $73.9 million in sports betting revenue for April 2024, up 16.7 percent from $63.4 million last April.

Overall, Ohio remains one of the largest legalized gaming markets in the country. In 2023, Ohio collected $3.3 billion in gambling revenue (including sports betting), ranking sixth in the nation, according to the American Gaming Association.