Ohio’s Casino Control Commission has released the state’s February figures. The report shows the upward trend in revenue for 2021 has continued into this year, which is good news for the Buckeye State.
Four of its seven casinos reported revenue increases last month, reflecting an 11.3% increase from this time last year. Ohio’s casinos raked in $75.2m in revenue after paying out all bets.
The state’s seven racinos reported a total of $103.5m in revenue, up by 13.7% from last year, according to the Ohio Lottery Commission.
American Gaming Association SVP Casey Clark said: "If we look at where 2021 went, beginning with a lot of uncertainty and ending with the greatest year on record for commercial gaming it makes sense that that momentum's continued into January and February and I'm glad to see Ohio doing so well.”
Cleveland reported a 9.9% increase in revenue, reaching $20.17m. Despite coming in more than one point below the statewide average, Cleveland has the NBA all-star game as an advantage.
"I don't think we're really second fiddle,” Clark said. “Ten percent growth is pretty impressive however you shake it, but I think there are a lot of entertainment options that go around, that are adjacent to a big event like an all-star game."
Table game revenue at Jack Casino’s slot machines rose in February by 24.4%, despite overall casino revenue falling one percentage point year-over-year. The casino added to its 76 tables this year now that Covid-19 restrictions have been lifted, for a total of 122 tables.
However, rising inflation has caused a surge in gas prices, something that could halt the Buckeye State’s rising revenue streak.
Clark said the amount of disposable income could decrease future figures, but right now it is too soon to know for sure.
“I think it's a little too early for us to tell what that might look like but certainly something we're keeping an eye on," said Clark.
