Area racino revenues up in December

Even with colder weather, area racinos enjoyed another strong December, according to the Ohio Lottery Commission, which governs the state’s racinos.

Hollywood Gaming at Dayton Raceway posted a “net win” of just over $7.6 million for December 2016, just above the $7.2 million posted for November 2016. Net wins for racinos in Ohio are net gaming revenues remaining after payout of prizes and promotional credits.

For the larger Miami Valley Gaming near Monroe, December’s net win was $11.8 million, above the $10.8 million realized in November.

So far in the state’s fiscal year, which started in July 2016, Hollywood Gaming in Dayton has seen net revenue of just over $45 million total.

Miami Valley Gaming has seen a net win of nearly $68.6 million for the fiscal year so far.

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Last year, Hollywood Gaming in Dayton reported $7.5 million in revenue for December 2015 while Miami Valley Gaming cleared $11.1 million.

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The Dayton racino has been open since August 2014 while Miami Valley Gaming opened in December 2013.

Statewide, all seven Ohio racinos saw nearly $73.6 million in net revenue for December alone, up from $69.7 million in November.

Year to year, all seven racinos are up 1.1 percent, said Alan Silver, a casino industry consultant and faculty member at Ohio University.

“It’s a really really strong year for the racinos,” Silver said.

So far this fiscal year — which Ohio counts as fiscal 2017 — the seven racinos have netted a total $445.7 million. Southwest Ohio is home to three racinos and a downtown Cincinnati casino.

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For all 12 months of fiscal 2016, racinos saw net revenue of $868.9 million.

Racinos are quickly becoming “entertainment centers,” and convenient ones at that, Silver said.

“The racinos are in the suburbs, and they’ve become these suburban entertainment joints,” Silver said. “They’ve done a great job in adding new amenities.” He cited a new micro brewery at the Scioto Downs racino in Columbus or a new Italian restaurant at Jack Thistledown racino in Cleveland.

Racinos tend to serve a local market, Silver said. They aren’t in city centers. To visit them, players don’t have to fight traffic or search for parking.

Said Silver: “It’s become a great entertainment option.”

Down the road, racinos will have table games, he predicted.

Silver said Miami Valley Gaming did a great job last month, calling $11.8 million is one of the “all-time highs.” (A message seeking comment was left for Miami Valley Gaming’s general manager.)

Meanwhile, casinos in Ohio have a “few issues” going on, Silver said. The re-branding of the Horseshoe casinos in Cleveland and Cincinnati to “Jack” casinos hasn’t served the facilities well, he said.

Adjusted gross revenue for all Ohio casinos — Jack Cleveland Casino, Jack Cincinnati Casino, Hollywood Columbus and Hollywood Toledo — was put at $66.3 million for December, higher than the $62.2 million reported for November, the Ohio Casino Control Commission said.

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