O-H.. Oh no!
Ohio's casinos had a challenging September this year.
The latest figures from the Ohio Casino Control Commission show that they earned approximately $78 million, which is down from around $82 million last year—a 5% decrease. Compared to August, when they made $89 million, the decline was even sharper at 13%.
On top of all of this, lawmakers continue to discuss legalizing online casinos in Ohio.
Slot revenues for the state were $58 million, representing a 1% decrease from the $59 million reported in September 2024. Meanwhile, table game revenues were $19 million in September, a 14% drop compared to the $23 million earned in the same month of 2024.
Which Casino Fared The Best in September?
While most casinos saw their earnings decline, Hollywood Toledo stood out by actually increasing its revenue in September. Its September revenue increased 3% from $17.9 million to $18.5 million.
Hollywood Toledo was the only casino to see an increase in revenue compared to the previous year, with about $15.8 million.
Hollywood Columbus Casino
- Revenue decreased by 2% from $22 million to $22 million.
- Table game revenue fell 12%.
- Slot revenue increased 1%.
Jack Cleveland Casino
- Revenue decreased by 5% from $21 million to $20 million.
- Table game revenue dropped 7%.
- Slot revenue went down 4%.
Hard Rock Cincinnati
- Revenue dropped 14% from $21 million to $18 million.
- Table game revenues fell 30% from $7 million to $5 million.
- Slot revenue decreased 6% from $14 million to $13 million.
Hollywood Toledo
- Revenue increased by 3% from $18 million to $19 million.
- Table game revenue went up 7% from $3 million to $3 million.
- Slot revenue rose 2% from $15 million to $16 million.
Hollywood Columbus led in revenue among the four casinos, followed by Jack Cleveland Casino, then Hard Rock Cincinnati, and lastly Hollywood Toledo in absolute revenue figures.
This decline occurred after a strong summer, during which revenues increased by 8% in July and 4% in August compared to the previous year.
Sports Betting Continues To Be Big in Ohio
A significant part of this trend involves sports betting, which generated approximately $967 million in September. Even though more people were betting than last year, the casinos didn't make as much money per bet because they kept a smaller share, known as a "lower hold percentage."
The reasons for the revenue drop could include more competition, crowded markets, and fewer earnings from games and slots at some casinos. Overall, Ohio's gaming scene has been growing, but these ups and downs can be tough for casino operators.
Going forward, it's important to monitor how these changes unfold to determine how Ohio's gaming industry can adapt and continue to thrive.
