Skip to main content

A report from the Ohio Casino Control Commission has revealed that the state’s four casinos combined to generate $94.7 million in taxable gaming revenue for March 2024. The state’s gaming industry recently recovered from a run of poor monthly casino revenues and is, by all indicators, now looking financially healthy again.

March’s figures were a 13.4% improvement on February’s total of $83.5 million and a significant shift from January’s abysmal revenue record. For emphasis, Ohio casinos pooled $75.2 million in January, its lowest monthly receipt in almost three years.

Compared to March 2023 when the state reported $93.5 million, the revenue from the month indicated a 1.4% rise. But with the legalization of online casinos in the offing, the outlook for the entire gambling industry in Ohio is quite positive.

The revenue above strictly represents gross receipts from slots and table games. On the other side of the divide, the sports betting industry saw a decline in March. Betting revenue dropped by 3.8% from February 2024, with a total of $63.8 million. This comes in the wake of the recent ban of prop bets in the state at the beginning of the year.

Hollywood Columbus Retains Narrow Lead at the Top of Ohio Casinos

From the total revenue of $94.7 million, slots accounted for almost 73% with $69 million while table games contributed the remaining $25.7 million. Interestingly, March’s positive results were evenly spread among all of Ohio’s casinos.

Nonetheless, Hollywood Columbus managed to maintain the top spot after generating $25.6 million in gaming revenue. It is, however, closely trailed by Jack Cleveland Casino which pooled $24.5 million in March.

Coincidentally, the revenue for each of these casinos grew by exactly 13.3% from February 2024. Albeit while Jack Cleveland Casino saw a slight 0.4% increase from the same month period in 2023, Hollywood Casino recorded a 5.1% annual rise.

Hollywood Toledo witnessed the highest month-over-month growth as its revenue grew 16.8% to $22.5 million. This was also a whopping 8.2% improvement from March last year, the most annual percentage growth of any Ohio casino.

The last casino, Hard Rock Cincinnati reported a revenue of $22.2 million, indicating a 10.5% rise from February. Unfortunately, this was not enough to secure a year-on-year growth as it slid to a 7.5% annual decline compared to March 2023.

Lawmakers Debate Prospects of Online Casino in Coming Months

While the casino revenues from March may put some smile on the faces of Ohio gambling stakeholders, it appears there’s even more positive news on the horizon. In the past weeks, Ohio legislators have met to discuss the possibility of legalizing online casinos in the state.

The Study Commission on the Future of Gaming in Ohio, a committee formed early this year, considered the potential benefits of online casinos during its first meeting in February. In its subsequent meetings, the Commission will discuss sports betting, racinos, iLottery, daily fantasy sports and charitable gaming.

Proponents for legalized online casinos estimate that the state can attract anything between $200 to $400 million in tax revenue with a regulated iGaming industry. Besides, the state is hoping to take a cue from its neighboring states, including Pennsylvania, Michigan and West Virginia all of whom have tapped into the prospects of online casinos.

Away from casinos, Ohio racinos had a fairly good March with a revenue of $128.7 million. The sports betting industry, however, saw mixed results as betting handle reached $808.2 million but did not translate to a correspondingly high revenue.

Emily Davis

Emily has a deep understanding of the gambling industry's regulatory landscape. With over 12 years of experience, she keeps readers informed about changes in legislation that affect both online and brick-and-mortar casinos.

Leave a Reply