Ohio casinos see jumps in March Revenue
The unseasonably warm weather proved to be a generous gift for Ohio casinos in March. The state’s four land-based casinos and six racetrack venues reported record-setting revenue, bringing in a combined $158.1 million in gross gaming revenue (GGR). The numbers reflect the highest amount of GGR ever attained in the state.
Daily high temperatures throughout the month remained above freezing, although there was a higher than average amount of rainfall. The result was a GGR of over $81.7 million for the landbased casinos, and more than $96.4 million for the racetracks. Assisting in the record figures was an additional weekend day compared to last year. March 2018 had a total of 14 weekend days, while last year there were only 13.
The increase for the casinos, located in Cleveland, Toledo, Cincinnati and Columbus, was 8.3% more than the same period last year. The Hollywood casino in Columbus earned $22.3 million more than March 2017, a 9% increase. Next up was the Jack Cleveland casino, which saw GGR of $20.1 million, or an increase of 12.2%. Hollywood Toledo came in third at $19.7 million (a 7.6% increase) and Jack Cincinnati rounded out the list with $19.4 million, or a 14.7% increase.
The racetracks’ increase was 10.1% over last year and Hard Rock Rocksino led the charge with $23.3 million. The venue is in the process of being acquired by MGM Growth Properties (MGP) from Milstein Entertainment in a deal reported to be worth $1.06 billion. Once complete, MGP plans on leasing it back to Hard Rock International for anywhere from $50 to $60 million in annual rent.