Ohio casinos snap decline in revenues

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Revenues at Hollywood Casino Toledo were $18.3 million in March, which was a 0.5 percent increase over the same month a year ago. But so far in 2017, revenues combined at the four state casinos are down 2.3 percent. THE BLADE
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Three of Ohio’s four full-service casinos had revenues increase in March over the same month a year ago, led by a nearly 9 percent jump in gambling proceeds at the Jack Cincinnati Casino.

Revenues at Hollywood Casino Toledo totaled $18.3 million in March, an 0.5 percent increase over the same month a year ago.

Revenues at Hollywood Casino Toledo were $18.3 million in March, which was a 0.5 percent increase over the same month a year ago. But so far in 2017, revenues combined at the four state casinos are down 2.3 percent.

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Overall, statewide casino revenues rose 2.3 percent in March, breaking a dubious trend of monthly revenue declines in each of the last 10 months. March statewide revenues were $75.4 million.

So far in 2017, the four casinos have combined to pull in revenues of $206.5 million, down 2.3 percent from last year.

The numbers are from a monthly revenue report issued Friday by the Ohio Casino Control Commission.

Despite the positive numbers in March at Toledo, revenues for the first three months at the casino were $48.9 million, down 3.6 percent from a year earlier.

Just last month the Toledo casino’s revenues were down 9.9 percent from the previous February. And even though revenues at the Toledo casino rose year-over-year as recently as November, that appeared to be an outlier because revenues had been down year-over-year at Toledo in nine of the last 10 months.

Revenues at the Jack Cincinnati Casino, owned and run by Jack Entertainment, had been down year-over-year in nine of the last 10 months before its turnaround last month when it took in $18.5 million.

Hollywood Casino Columbus, which like Toledo is run by Penn National Gaming, had $20.6 million, up 8.7 percent over a year ago.

Meanwhile, Jack Cleveland Casino’s revenues fell 8 percent to $18 million. Revenues at the Cleveland casino now have been down year-over-year for six straight months.

Experts cautioned recently that lower revenues at Ohio’s casinos do not necessarily equal operating losses.

All could all be making sufficient profits to satisfy their owners, however profits or losses are not required to be reported. The monthly revenue figures reported by the state only include revenues collected from gambling.

The casino reports do not include revenue that is collected from the sale of merchandise, food, or drink or other amenities at the establishments.

Contact Jon Chavez at: This e-mail address is being protected from spambots. You need JavaScript enabled to view it or 419-724-6128.

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