Information about the revenue generated during the last month by Ohio-based casinos was released mere hours ago. Despite the not so optimistic forecast of market analysts, the numbers show that the revenue marked a slight increase.
Hollywood Casino Toledo is one of the venues which reported a decline in February revenue. The sum generated was $15.24 million, which marks a 0.2% drop as compared to the results reported a year ago.
Ohio officials attributed the decrease to the severe weather conditions. In the beginning of February, severe weather conditions befell the region and due to the heavy snow, Hollywood Casino Toledo had to stop accepting players for 24 hours.
In comparison, in February 2014, the casino was closed due to harsh weather for 11 hours only.
The situation was pretty different at the Cleveland’s Horseshoe Casino, though.
In point of fact, this is the only one out of the four existing casinos in Ohio, which reported an increase. The revenue generated during February was well over $20 million, which compared to the numbers announced by the other three venues, makes Cleveland Horseshoe Casino the top performer of the last month.
According to the information released by a representative of the Ohio Casino Control Commission, the revenues of Hollywood Casino Columbus and Horseshoe Casino Cincinnati declined by 5% and 6%, respectively.
Yet, the increase reported by Cleveland is enough for defining February as a month during which decent revenue has been generated. What is more, an increase of 1% was reported as compared to the results of February 2014.
Currently, the numbers reported in Toledo are 10% higher than what has been announced this time last year. Speaking of the state revenue, it amounted to $132 million.
However, it is important to note that the above-mentioned statistics includes profits generated solely by gambling activities. Profits generated from sale of food and beverage or merchandise has been included.
Back in February 2014, Toledo, Cincinnati, Cleveland and Columbus Casinos reported adjusted gross revenue amounting to $66.8 million. Last month, the adjusted gross revenue totaled $67.5 million or an increase of 1% YOY was noticed.
As for the racinos located on the territory of Ohio, they generated revenue amounting $62.8 million. The revenue was mainly generated via the video lottery terminals and the announcement of the Ohio Lottery Commission shows that there was an increase of 44% YOY.
