The Ohio Casino Control Commission released a report about the financial performance of the state casinos during the previous month. March was, by and large, profitable to the venues but as compared to the results posted a year earlier, the profits were lower than those in March 2014.
According to market analysts, March is usually a strong month for Ohio gambling venues. The improved weather conditions encourage players to go back to the casinos and spend some time engaged in gambling activities. March 2013 has been the best month so far as the revenue reported exceeded the overwhelming $84 million.
As far as the revenues of Hollywood Casino Columbus, Hollywood Casino Toledo, Horseshoe Casino Cleveland and Horseshoe Casino Cincinnati are concerned, they generated as much as $72.9 million, which can be regarded as a record revenue for this year.
Although the results reported were better than January and February revenues, statistics shows that the earnings are still weaker than what was registered exactly one year ago. The decline is attributed to the fact that there were 5 weekends in March, 2014. Plus, one of the casinos was closed for a week last month.
The worst decline was reported by Horseshoe Casino Cincinnati, which registered revenue amounting to $17.5 million during the previous month. In other words, the decline was 13% YOY. The revenues of Hollywood Casino Columbus and Horseshoe Casino Cleveland decreased by 12% and 7% YOY, respectively.
However, Cleveland Casino posted revenue that is smaller than the one registered in February. The earnings in February exceeded $20 million, while March revenue reached $19.8 million.
Back in March the profits from slot machines improved, while table games revenue decreased by $1 million.
As for the revenue of Hollywood Casino Toledo the decline was negligible. It posted revenue of $17.3 million, which means the decline was less than 1%.
Despite the fact that Hollywood Casino Toledo’s financial performance during the previous month was not satisfactory, the numbers posted during the first quarter of 2014 and the revenue registered in the first quarter of March 2015 shows an increase of nearly 6%.
According to Ohio’s gambling regulations, casinos have to pay tax equal to 33% of their profits.
There are seven racinos on the territory of Ohio and they offer harness racing and video gaming facilities. The previous month was profitable for them too and according to the data released by the Ohio Lottery Commission, the revenue they generated totaled $72.7 million.
