August proved to be a particularly lucrative month for Ohio’s gambling industry. The state’s casino market has seen year-on-year growth every single month this year, and August was no exception. Casino revenues were up to $66.7 million compared to the same month in 2017. This was a 5.4% jump, according to the numbers published by the Ohio Casino Control Commission.
When comparing the performance Ohio’s casino market overall this year to last year’s performance, it can be seen that there has been a 2.1% improvement. It also looks like the last four months of 2018 will continue to yield good numbers.
Ohio launched its commercial casino market in 2012, and numbers have fluctuated between $798 million (2016) and $821 million (2013) per year since then.
Other key highlights of Ohio’s August numbers were as follows:
- Table games revenue grew 1.3% to $22.5 million compared to last year.
- Slots revenue did significantly better and grew 7.2% year on year to $47.5 million. This was up from August ’17’s numbers of $44.2 million.
- Penn National Gaming produced revenues of $18.4 million (a 1% growth from August 2017).
- Earnings at the Hollywood Casino Toledo increased by 3% to $16.7 million.
- The highest year on year growth was seen at Jack Cincinnati Casino which saw numbers increase by 15% – $17.7 million in August this year, compared to $15.4 million last year.
- Jack Entertainment LLC’s other state casino, Jack Cleveland Casino also saw revenues rise; its numbers grew 4% to $17.5 million last month.
- Ohio’s racino market saw earnings grow by 11% to $79 million in August. The biggest earners were Hard Rock Rocksino (5%), Scioto Downs (9.8%) and Miami Valley Gaming (16.5%).
In other Ohio news, it was reported that MGM Resorts added Hard Rock Rocksino to its ever-growing portfolio of properties across the United States. The Ohio property is considered the state’s largest gambling resort and has no fewer than 2,300 lottery terminals on-site. This will provide MGM with the perfect platform from which to launch sports betting in Ohio if and when the state passes legislation to that effect next year.
Jim Murren, the chief executive officer of MGM Resorts International, said that since opening its doors in 2013, the Rocksino has cemented itself as the market leader in gaming and entertainment. He said that this was due to its superior asset quality, premium location and dedicated employees.
“We believe the Rocksino is a great fit for the MGM portfolio and will benefit from our capabilities as a leading global entertainment company,” he said. “We anticipate revenue and profit growth from this combination.”
