Ohio Gaming Revenue Down Nearly 11 Percent in January
Ohio gaming revenue in Jan was mastered nearly 11% to start the young year. The Buckeye State’s casino win woes shadowed a nationwide trend suggesting players could follow reining inwards their spending.
Ohio is nursing home to septenary racinos that bid video drawing terminals (VLTs) and quaternity casinos that tender one-armed bandit machines and live dealer tabulate games. Both racinos and casinos offer up on-site sports betting. Online sportsbooks additionally operate in the state.
The Ohio River Lottery, which regulates the racinos and tallies each property’s gross gaming revenue (GGR), reported that January VLT venues totaled $100.8 million. The septet racinos collectively operated 10,285 video drawing machines during the month.
The $100.8 meg won past the VLTs represented a 9% slump from Jan 2023 when the properties won $110.8 million.
Ohio’s 4 casinos – Jack Cleveland, Hollywood Columbus, Hard John Rock Cincinnati, and Hollywood Toledo – reported GGR of $75.2 million. Their 6,225 slots and 352 tables won around 13% less, or $10.9 million, than they did inward January 2023.
Combined, Ohio’s gaming win inward January totaled $176.1 million, a nearly 11% year-over-year nosedive.
Jack President Cleveland was the top-grossing casino with GGR of $21.1 million, an 8% decline. MGM Northfield Park was the spinning top VLT locus with GGR of $22.2 million, a 9% decline.
Sports Betting Down
Besides bounteous losses at the state’s casinos and racinos, Jan 2024 wasn’t tolerant to sportsbooks.
Oddsmakers saw their mesh win crash from almost $210.5 zillion in January 2023 to $113.2 zillion in January 2024 – a 46% plummet. Bettors risked substantially less, from more than $1.11 1000000000 in January 2023 to $810.4 million. Online books accounted for almost all of the activity — $792 million.
Sportsbooks were lately told by the Buckeye State Casino Control Commission, which oversees the quadruplet casinos and sports betting at casinos, racinos, and online, to remove player props involving college student-athletes. The NCAA and Gov. Mike DeWine (R) requested the convert on claims that props based on a college player’s execution puts student-athletes at heightened put on the line of beingness verbally mistreated on social media and harassed and threatened at games.
The OCCC said college player props accounted for 1.5% of the money play on sports cobbler's last year.
Casino Cooldown
2023 was another record-breaking twelvemonth for the US commercial gaming industry. Non-tribal casinos, sportsbooks, and iGaming sites won $66.5 billion – a 10% year-over-year increase.
2024, however, didn’t begin as industry stakeholders had hoped. Jan brick-and-mortar revenue declines were mat up in a slew of states, including New York, New Jersey, Pennsylvania, Louisiana, Mississippi, Indiana, Michigan, Maryland, and Massachusetts. Win on the Las Vegas Strip was also down.
Overall gaming disbursement nationwide remains robust, as revenue from online trading operations has offset printing in the flesh(p) losses.
But brick-and-mortar customers are to a greater extent worthful to casinos than an iGaming or online sports bettor, as they typically pass water nutrient and potable purchases, sometimes continue overnight, shop, take inward a show, or take in a massage.
iGaming smash is much littler than running a brick-and-mortar casino, but a considerable portion of those gaming revenues are shared with third-party operators. Online revenues are often taxed significantly higher than in the flesh(p) win.
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