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Ohio’s February Casino Revenue Upticks 13.7% From Slow January

Written By Katarina Vojvodic on April 2, 2024
Dealer Stacks Chips At Horseshoe Casino Cincinnati, Ohio

Ohio’s casinos and racinos had a stable February, showing a slight annual and monthly increase.

The state’s casinos and racinos took in $197.2 million in revenue in February, a slight growth from $197 million in February 2023. That amount is the money the gaming venues keep after paying out winnings to players but before state taxes.

According to the Ohio Casino Control Commission’s (OCCC) February 2024 report, the state’s seven racinos collected $113.7 million1, while four casinos won $83.5 million in revenue2.

Meanwhile, the state regulator reported $67.7 million in adjusted gross revenue from sports betting, resulting from a $671.1 million betting handle.

Ohio casinos show monthly and yearly revenue rise in February

As mentioned, Ohio’s four casinos won $83.5 million in taxable revenue in February. The figure represents an annual increase from $82.6 million and a 13.7% month-over-month rise from Ohio casinos’ January 2024 revenue of $75.2 million.

That includes revenue from slot machines and table games without in-person sports bets. Of the total February revenue, slot revenue was $60.4 million, while $23.1 million came from table games.

Looking at venues individually, here’s how much Ohio casinos progressed in February compared to January:

  1. Hollywood Columbus: $22.5 million, a 14.3% monthly rise
  2. Jack Cleveland Casino: $21.6 million, a 2.2% monthly increase
  3. Hard Rock Cincinnati: $20.1 million, a 13% monthly increase
  4. Hollywood Toledo: $19.2 million, a 16.3% monthly rise

While all four casinos combined showed a 1.1% annual growth in taxable revenue in February, Jack Cleveland Casino was the only location to show a yearly drop. Here’s a bigger scope:

  • Hollywood Columbus: a 5.5% yearly rise
  • Jack Cleveland Casino: a 4.9% annual drop
  • Hard Rock Cincinnati: a 1.4% yearly up
  • Hollywood Toledo: a 3.2% annual rise

Although the state formed a legislative committee called the Study Commission on the Future of Gaming in Ohio, and it met for the first time in February to discuss online casinos, it does not appear that Ohio online casinos are imminent.

You can keep track of Ohio and other states considering expanded gambling through our online casino bill tracker

Ohio sports betting figures keep showing a monthly decline

January 2024 wasn’t Ohio’s best month for sports betting activity in terms of money generated for the state. At the time, legal sports betting online and retail locations showed a monthly decrease in both the total amount of bets (-27.2%) and taxable revenue (-46.2%).

The Ohio sports betting market was even less busy in February. According to the OCCC’s February 2024 sports gaming revenue report3, Ohio online sportsbooks and retail locations brought in $67.6 million in adjusted gross revenue in February. Of that number, 99.0% came from online sports betting:

  • Retail locations collected $613,206
  • Online sportsbook operators took in $67.0 million

February sports gaming revenue represents a 40.3% monthly decrease from January’s $113.2 million. Meanwhile, the combined betting handle figure (total bets) was $671.1 million in February, a 17.2% drop from January.

Compared to February last year, Ohio’s online and retail taxable revenue showed a 16.6% decrease, while total wagers represent a 5% annual increase. February 2023 was the second month of betting for Ohio, following the state’s launch on Jan. 1, 2023.

At the time, the state still imposed a 10% tax rate on adjusted gross revenue. However, that changed when Ohio Gov. Mike DeWine doubled the tax rate to 20% at the start of the fiscal year in July 2023.

Sources

  1. Ohio’s seven racinos collected $113.7 million in February 2024 revenue ↩︎
  2. Ohio casinos won $83.5 million in February 2024 revenue ↩︎
  3. OCCC’s February 2024 sports gaming revenue report ↩︎
Photo by AP Photo/Al Behrman
Katarina Vojvodic Avatar
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Katarina Vojvodic

Katarina Vojvodic is a lead writer for PlayUSA who lives in Toronto. Vojvodic provides coverage of the US gambling industry with a focus on US online casinos. Previously, she covered Ontario’s online gambling industry for PlayCanada.com. Vojvodic holds a master’s degree in journalism from the University of Belgrade. Outside working hours, she can be found near the water with her husband and their two kids.

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