The Ohio Casino Control Commission (OCCC) has released revenue figures for January. The state’s casinos and racinos generated $176.1 million in gambling revenue for the first month of the year, which marks a decrease of 10.5 percent year-on-year compared to the $196.8 million reported in January 2023.
The four casinos in Ohio, including Hollywood Columbus, Jack Cleveland Casino, Hard Rock Casino Cincinnati, and Hollywood Toledo, posted revenue of $75.2 million, down from $86.1 million in January last year. The properties saw declines of at least 7 percent each since the same period last year. Hard Rock Cincinnati reported an 18 percent drop.
The state’s seven racinos, including MGM Northfield Park, Miami Valley Gaming, Scioto Downs, JACK Thistledown Racino, Hollywood Mahoning Valley, Hollywood Dayton, and Belterra Park, took in $100.9 million, down from $110.8 million last January. The decrease follows a successful December in which casinos and racinos generated $212.1 million in revenue, up from $193 million in the same period last year.
The seven racinos offer video lottery terminals (VLTs), while the four casinos offer slot machines and live dealer table games. Both types of properties offer on-site sports betting. The state additionally houses online sportsbooks.
The seven racinos collectively operated 10,285 video lottery machines during the month. The casinos collectively have 6,225 slots and 352 tables.
January numbers show players curbing their spending
January’s numbers solidify a nationwide trend which suggests that players could be reining in their spending. This could also be seen in sportsbooks, which also did not generate much revenue. Oddsmakers witnessed their net win drop from almost $210.5 million in January 2023 to $113.2 million in January 2024, a decrease of 46%.
Bettors also risked substantially less, from more than $1.11 billion in January 2023 to $810.4 million this year. Online sportsbooks saw the most productive response at $792 million.
The US commercial gaming industry witnessed record-breaking revenue last year as non-tribal casinos, sportsbooks, and iGaming sites won $66.5 billion – a 10% year-over-year increase. This year, however, casino operations are seemingly struggling to keep up the momentum.
Apart from Ohio, January brick-and-mortar revenue declines were experienced in other states, including New York, New Jersey, Pennsylvania, Louisiana, Mississippi, Indiana, Michigan, Maryland, and Massachusetts. The Las Vegas Strip also saw a decline in winnings.