Ohio Lottery Commission released a report about the financial performance of the four casinos and the seven racinos on the territory of the state during April 2015. According to the numbers posted, the casino revenue totaled $69.5 million, or an increase of 0.7% was registered as compared to the data released a year ago.
The performance of Ohio-based casinos in March 2015 was better than last month’s results but the increase YOY indicates that the financial condition of the casinos is relatively stable.
There are four casino venues in Ohio and two of them posted a decrease YOY, while the other two reported an increase. The Cleveland and Cincinnati-based properties were the two that posted a decline but those in Columbus and Toledo reported jump in sales.
As for the revenue generated at Horseshoe Casino Cleveland, the estimated decrease was approximately $500,000 in comparison to the results back in April 2014. Table game revenue slightly increased to reach $8.8 million but the slot revenue decreased and amounted $9.5 million.
The other casino that reported a decrease was Horseshoe Cincinnati, where the revenue reached $15.9 million, which is exactly $800.000 less than what was registered in April 2014.
As for Toledo casino, it managed to generate $16.7 million. Although the numbers were slightly lower than March 2015, an increase YOY was posted.
Hollywood Columbus casino reported the best results as compared to the results in April 2014 and the revenue it generated was $18.6 million. Both slot machine and table game revenue jumped and the increase YOY was $1.2 million.
Ohio racinos also performed well in April 2015 but people with knowledge on the matter explained that the revenue growth they posted was at the expense of the aforementioned nearby casinos that reported revenue decrease.
The revenue reported by the racinos was, by and large, overwhelming. Back in April 2014, it was $47.3 million, while last month it reached $70.5 million. However, the sharp increase was attributed to the fact that a year ago there were only four operating racinos.
ThistleDown Racino reported decrease of $0.8 million as compared to the data posted in April 2014.
The Hard Rock Rocksino Northfield Park, however, reported a revenue increase of $2.6 million YOY. Last month, the revenue generated was $17.2 million.
Scioto Downs also posted satisfactory numbers, while the revenue of Miami Valley Gaming remained flat YOY.
The taxes casinos pay to the state are usually used for funding projects believed to be beneficial to the local communities.
