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The old saying, “April showers, May flowers” must’ve been written for casinos.
Casinos nationwide see revenue plummet in April after enjoying increased traffic and betting during March. But May tends to bring a bounce-back, which was the story in Ohio. The state’s four standalone casinos brought in $84.6 million in May, up just over a million dollars compared to April.
Key takeaways
- May casino revenue snuck past $84 million in May, making it the second most profitable month of the year.
- Online casinos could bring the state more than $200 million based on current averages.
- Hollywood Columbus had the most revenue in May.
How much revenue could online casinos bring to Ohio?
For as big a population as Ohio has, its lineup of standalone casinos (the state has seven racinos, which are a combination of a casino and a horse track) is pretty paltry. As such, monthly revenue over the past six years has never eclipsed $100 million.
In terms of revenue, the state’s four standalone casinos could benefit greatly from online casinos. Unfortunately, online casinos are illegal in the Buckeye State. However, if they were legalized, Ohio would instantly become one of the top iGaming markets in the country.
Here’s a look at what Ohio’s iGaming revenue would look like based on May revenue per-capita averages in the seven states with legal and operating online casinos:
| State | July online casino revenue | Population (according to 2023 Census Bureau data) | Per-capita revenue |
|---|---|---|---|
| Pennsylvania | $215.3 million | 13 million | $16.56 |
| New Jersey | $195.4 million | 9.3 million | $21.01 |
| Michigan | $191.4 million | 10 million | $19.14 |
| Connecticut | $35.7 million | 3.6 million | $9.92 |
| West Virginia | $14.4 million | 1.8 million | $8.00 |
| Delaware | $5.2 million | 1 million | $5.20 |
| Average | $109.6 million | 6.5 million | $16.86 |
| Ohio (projected) | $200.6 million | 11.9 million | $16.86 |
While $146.1 million is an impressive number, Ohio’s online casino revenue could be even higher. When accounting for the per-capita average of the three most populous online casino states (Michigan, New Jersey, and Pennsylvania), Ohio’s iGaming revenue could reach as high as $226 million in months similar to this past May.
That would make Ohio the biggest online casino market in the country.
Hollywood Columbus leads the way for May revenue
Month-on-month, three of the state’s four standalone casinos saw their revenue go up. The lone property that saw a dip in revenue was Hollywood Toledo.
In terms of overall revenue, Hollywood Columbus led the way with $23.6 million, up around $450,000 recorded for Ohio’s April 2024 gaming revenue. Hollywood Columbus also brought in the most slots revenue, while Jack Cleveland had the highest table-games revenue.
| Casino | Slots revenue | Table games revenue | Total revenue |
|---|---|---|---|
| Jack Cleveland | $13,164,368 | $8,133,101 | $21,297,469 |
| Hollywood Columbus | $18,419,630 | $5,229,996 | $23,649,626 |
| Hard Rock Cincinnati | $13,968,409 | $6,481,190 | $20,449,599 |
| Hollywood Toledo | $19,176,682 | $2,305,721 | $16,870,961 |
| Total | $62,423,368 | $22,150,008 | $84,573,376 |
Will lawmakers expand Ohio casino gaming?
Ohio is missing millions of dollars in revenue monthly because it doesn’t allow online casinos. Lawmakers have seemed to take the hint, though.
Earlier this year, Ohio’s Study Commission on the Future of Gaming in Ohio is considering the impact of online casinos. While no regulations or laws have been set in stone, the commission’s report should be released soon. Their findings could be the first steps toward legalizing Ohio iGaming.
