Ohio gambling industry hits new revenue record in March

March was a great month in the state of Ohio when it comes to the gambling industry. Players hit the casinos and racinos in large numbers, producing over $215 million in revenues once all winning bets were paid.

The four casinos in the state brought in over $91 million, which was an 8.7% increase from the previous record-setting amount for that month that took place way back in March 2013. The last time the casinos hit such a high amount was before racinos were allowed and they were the monopoly in the gaming industry.

Details of the Month

For the racinos, the horse tracks brought in over $124 million from its slots-only gaming. This was over 20% more than the previous record set in March 2019. What makes this amount so impressive is that the racinos earned the massive amount with 10% of terminals out of operation.

According to American Gaming Association’s Casey Clark, the Sr. V.P. of the group, the revenues are a result of pent-up demand for people who want to get out and enjoy entertainment. With more vaccinations available and restrictions easing, players are able to travel and enjoy options like casino and racino gaming.

Hollywood Columbus earned the most in March, bringing in $24.8 million in earnings. This was a record for the venue. Second place went to Hollywood Toledo with $23.9 million in earnings. Hard Rock Cincinnati earned $20.7 million.

Jack Casino Cleveland did well for the month, earning $22.2 million for the month. Jack Thistledown shattered an old monthly revenue record set in July 2020 by earning over $17 million in March. The property was able to earn a massive amount with 23% fewer video lottery terminals in operation.

The total revenues for March were staggering, a total of 36% more than February’s earnings of $158.7 million.

The End of Overnight Curfew Helped

In mid-February, Ohio Governor Mike DeWine ended a months-long overnight curfew for casinos in the state. The gaming facilities were able to operate 24/7, which helped to push the March revenues to new heights.

The casinos and racinos had been operating under reduced hours since November 2020 due to the continued threat of the COVID-19 pandemic. The gambling venues are starting to see a huge recovery as players are traveling to play games, enjoy dining and drinks.

A mix of the vaccination process, stimulus checks, and possible cabin fever has led to the major increase in revenues for March. It will be interesting to see if this trend continues through April, May, and beyond.