Continued Revenue Success Experienced by Ohio Casinos and Racinos
Gaming facilities located in Ohio maintained their strong pace in June, where revenue is concerned. While they didn’t have quite as high and record levels as those experienced in March and April, revenue still managed to hit close to $200 million (£145 million) for the month.
Ohio is home to a total of 11 gaming establishments, split between four casinos and seven racinos, including the Hollywood Casino Toledo and MGM Northfield Park (NYSE: MGM). Together, they brought in a combined revenue of $196,827,793 (£142,760,837). That was split up with over $84,700,000 coming from the four casinos and the remaining $112,100,000+ from the racinos.
Back in April, Ohio set state records for revenue coming from its 11 gambling businesses. Official figures recorded a total of $217.1 million (£157.5 million). That bypassed the record that was set in March of $215.8 million (£156.5 million).
Ohio, like many other locations in the U.S., was forced to close its establishments for various periods during the worldwide COVID-19 pandemic. Since these casinos and racinos have re-opened, though, The Buckeye State has recorded quite the boom in revenue from them. According to reports from the state, of the top 10 months for Ohio’s gambling revenue, six of them occurred within the past year. This includes the $209.2 million (£151.8 million) combined revenue recorded in the month of May.
Figures released by the Ohio Lottery show that the seven racinos within the state witnessed Ohioans playing more than $1.2 billion (£870.4 million) in credits. That accounts for the almost 10,500 Video Lottery Terminals (VLTs) located statewide. June also marked the end of the fiscal year when it comes to the racinos. The casinos in Ohio stick to the calendar year for financial totals.
Speaking of the casinos, Hollywood Columbus was the leader of the four available establishments, posting revenue of $23,207,120 (£16,831,890) in June. That’s a slight increase on its total from May, while Jack Cleveland Casino also experienced a month-to-month increase, recording a $22.8 million (£16.5 million) figure for June as opposed to $22.5 million (£16.3 million) in May.