Ohio casinos close out 2020 with improvements

Ohio casinos close out 2020 with improvements

Gambling venues in the state began to record improvements as the year drew to a close

As far as most people are concerned, 2020 is going to go down as a write-off for the casino industry. Around the world, casinos suffered massive losses because of COVID-19 and some are still taking hits into the new year. In the US, all casino states saw huge reductions in revenue, even Ohio. The Buckeye State began to launch a recovery toward the end of the year, but it wasn’t enough to put things back on the positive side of zero.

Ohio has four casinos and seven racinos, which provided a total of $1.44 billion in revenue for 2020. This was 26% lower than the previous year’s performance, which also translates into a loss of $175 million for the state through tax revenue. Ohio’s gambling facilities were off-limits from March to June and, when they were allowed to finally reopen, greatly reduced capacities that continued through the end of the year hampered any chance of recording a strong recovery.

Still, as the year ended its last month, Ohio’s casinos began to see some decent improvements. Hollywood Toledo Casino picked up $4 million from its previous month’s performance, taking in $20.46 million, and Hollywood Columbus finished with $15.4 million. Jack Cleveland took in $13.25 million and Hard Rock Casino Cincinnati completed the casino segment with $10.75 million.

Ohio has begun to relax some of its COVID-19 restrictions, which will aid in the recovery process. When the state’s gambling industry was allowed to get back in action last summer, it saw month-over-month gains through the end of the year, which should be a good sign that 2021 is going to get off to a better start.

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