Ohio Casino And VLT Revenue Dip In November, Falling 4.4%

It was a bumpy month for Hollywood Columbus and Hollywood Mahoning Valley in particular
hollywood casino

The Ohio Lottery and Casino Control Commission reported a combined revenue total of $183.6 million for November, with both gaming disciplines showing month-over-month declines.

The overall total represented a 4.4% drop from the $192.1 million generated in October. The larger dip came from the state’s four casinos, whose $78.7 million from table games and slots was 5.3% off the previous month’s total of $83.1 million. Revenue from the state’s seven racinos where video lottery terminals (VLTs) are available was 3.7% lower versus October at just under $105 million.

The $921.4 million in casino revenue for the first 11 months of the calendar year is 2.5% higher compared to the same period in 2021, but the $550.9 million in VLT revenue through the first five months of Fiscal Year 2023 is nearly flat compared to FY 2022, falling 0.1% — approximately $600,000 — short of level.

The state received $26.2 million in tax receipts from casino gaming, while the Ohio Lottery received $35.2 million from its 33.5% share of revenue split with racinos. Sports wagering is set to launch statewide at midnight Jan. 1.

Hollywood Columbus still No. 1 — barely

Hollywood Casino in Columbus narrowly held onto its status as the top spot for revenue. Its $21.1 million in winnings for November edged out JACK in Cleveland by less than $340,000. The two were the only venues to clear $20 million in revenue, as Hard Rock in Cincinnati failed to meet that threshold for the first time since February by coming up $645,000 short. Hollywood Casino in Toledo rounded out the quartet with $17.4 million, the third straight month it finished with less than $19 million.

Hollywood Columbus had the biggest month-over-month decline at 11%, sparked by a 16.1% drop in table games revenue to $5.3 million. Bettors fared much better in November compared to October, knocking down the hold more than four percentage points to 21.3% on roughly the same amount of table drop at $24.8 million.

Overall revenue at JACK dipped 2.2%, but it was able to eke out a gain of more than $16,000 at the tables to again finish above $8.7 million and pace the quartet. Both Hard Rock and Hollywood Toledo had 2.1% declines in table games revenue to $7.1 million and $2.8 million, respectively.

Hollywood Columbus also declined the most in slot revenue, tumbling 9.2% versus October to $15.8 million. Slot payout increased more than one-third of a percentage point to 92.8%, the second-highest total of the year behind the 92.84% reported in August. Hard Rock’s slippage compared to October was 4.1% down to $12.3 million, while JACK and Hollywood Toledo each posted declines of 3.8%, with the former totaling just over $12 million in slot winnings an PENN Entertainment’s second Ohio venue claiming $14.6 million.

Statewide casino drop totaled $812.6 million for November, with table drop adding up to nearly $100 million. It was a month-over-month decline of 3.9% compared to October’s $845.4 million but an increase of 3.2% versus November 2021’s total drop of $787.4 million.

Six of seven VLT venues post declines

Despite adding another 85 VLTs into operation, raising the total to 10,338 across the Buckeye State, the nearly $1.17 billion in credits played for November was 4.8% lower versus the $1.23 billion reported for October. The statewide payout rate of 91.02% was nearly one-tenth of a percentage point higher compared to the previous month but not enough to offset the $58.6 million drop in handle. Only Belterra Park in Cincinnati was able to post a gain compared to October.

MGM Northfield paced all locations in revenue with $22.9 million, a decline of 1.6% that could have been larger had it not been for the nearly one-quarter of a percentage point decrease in payout to 90.98%. Miami Valley Gaming edged out Eldorado Gaming at Scioto Downs for the No. 2 spot by $120,000, finishing with $18.4 million as its 2.2% dip was less than half of Eldorado’s 5% fall-off versus October.

Hollywood Mahoning Valley was the only venue of the seven to have a drop in payout percentage, slipping more than one-half of one percent to 90.97%. It claimed more than $12.6 million in revenue — a low for FY 2023 that was 9.5% lower than the almost $14 million reported in October.

Belterra Park’s revenue increase of 0.6% from October to $6.7 million can be attributed to a lower payout percentage. It was the only venue to be under 90%, improving nearly two-thirds of a percentage point, which helped offset a 6.9% decline in credits played to just shy of $66 million.

Five of the seven venues did report year-over-year increases in revenue compared to November 2021, with Miami Valley posting the biggest gain at 8.8%, followed by Hollywood Mahoning Valley (8.1%) and MGM Northfield (8%).

Photo: Shutterstock


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