Ohio Casinos & Racinos Have Record Revenue

Based on current data and trends, Ohio’s gambling popularity is rising. Suppose the January numbers are any indication, racinos, and casinos may be seizing a larger market share than ever before. And since these figures do not include sports betting earnings, the total potential revenue may be even higher. $196.8 million reportedly generated in January this year. This is from eleven Ohio casinos that surpassed the January record of $171.2 million set in 2022.

Ohio Casinos and gambling houses that made this money had already paid out prizes to winners. And so, the stated figure included state-mandated taxes and fees that had yet to be collected.

Four of the licensed casinos that made $86.1 million offer card games like blackjack, slots, and table games. One year ago, the reported totals were $75.6 million, realized by the quartet. Meanwhile, the slot machines at racinos are not to be outdone, bringing in a whopping $110.7 million. That’s an impressive jump from the $95.6 million tallied in January last year. With seven racinos in the state, it’s safe to say Ohioans will continue to fill these gaming bazaars throughout the year.

Ohio Casinos

In another positive development, January’s revenue marks a steady increase in the monthly collections of Cleveland-Akron’s market. A combined $62.2 million in revenue collected by JACK Cleveland Casino, JACK Thistledown and MGM Northfield Park in January 2023 was slightly higher than the $51.7 million earned in January 2022.

But they’re not the only ones whittling away at more money during this time. All the 11 Ohio casinos and gambling establishments in the state raised their stakes and scored record earnings in January compared to last year.

Bettors’ interest in Ohio casinos has been through the roof. Since they legalized sports gambling and parlors in December 2021. And the best part? It’s counted separately from the traditional gambling they offer. This means they’re doubling down on profits and vying for a larger piece of the pie. After adding in-person wagering, it’s easy to see why bookies and gamblers are flocking to this new opportunity.

Nevertheless, this isn’t to say there is no need for sports betting. Casinos nationwide still make a lot of money from sporting events and their respective teams. But the similarities between them and other forms of gambling also make it difficult to justify the need for physical casinos in Ohio.

Indeed, it’s hard to argue with convenience and accessibility, but people have made their voices heard in favor of online wagering. Take JACK Casino in Cleveland, for instance, which raked in an impressive $23 million from gaming tables and slots, while their sportsbook only managed to earn a paltry $270K. And this trend is not just limited to one casino – it’s a state-wide phenomenon.