RELATED: Ohio casino revenue dips in November as racinos see growth
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.