{"id":312844,"date":"2024-03-04T08:43:16","date_gmt":"2024-03-04T14:43:16","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=312844"},"modified":"2024-03-04T11:16:46","modified_gmt":"2024-03-04T17:16:46","slug":"ohio-gaming-revenue-down-nearly-11-percent-in-january","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/ohio-gaming-revenue-down-nearly-11-percent-in-january\/","title":{"rendered":"Ohio Gaming Revenue Down Nearly 11% in January"},"content":{"rendered":"

Ohio gaming revenue was down nearly 11% to begin the new year. The Buckeye State’s casino win woes in January shadowed a nationwide trend suggesting players could be reining in their spending.<\/p>\n

\"Ohio
Jack Cleveland was the top-grossing casino in Ohio in January 2024. Ohio gaming revenue was down almost 11% to begin the new year. (Image: Destination Cleveland)<\/figcaption><\/figure>\n

Ohio is home to seven racinos that offer video lottery terminals (VLTs) and four casinos that offer slot machines and live dealer table games. Both racinos and casinos offer on-site sports betting. Online sportsbooks additionally operate in the state.<\/p>\n

\n

The Ohio Lottery, which regulates the racinos and tallies each property’s gross gaming revenue (GGR), reported that January VLT venues totaled $100.8 million. The seven racinos collectively operated 10,285 video lottery machines during the month.<\/p>\n<\/div>\n

The $100.8 million won by the VLTs represented a 9% decline from January 2023, when the properties won $110.8 million.<\/p>\n

Ohio’s four casinos, JACK Cleveland, Hollywood Columbus, Hard Rock Cincinnati, and Hollywood Toledo, reported GGR of $75.2 million. Their 6,225 slots and 352 tables won about 13% less, or $10.9 million, than they did in January 2023.<\/p>\n

Combined, Ohio’s gaming win<\/a> in January totaled $176.1 million, a nearly 11% year-over-year nosedive.<\/strong><\/p>\n

JACK Cleveland was the top-grossing casino with GGR of $21.1 million, an 8% decline. MGM Northfield Park was the top VLT venue with GGR of $22.2 million, a 9% decline.<\/p>\n

Sports Betting Down<\/b><\/h2>\n

Besides big losses at the state’s casinos and racinos, January 2024 wasn’t kind to sportsbooks.<\/p>\n

Oddsmakers saw their net win crash from almost $210.5 million in January 2023 to $113.2 million in January 2024, a 46% plummet. Bettors risked substantially less, from more than $1.11 billion in January 2023 to $810.4 million. Online books accounted for almost all of the action at $792 million.<\/p>\n

\n

Sportsbooks were recently told by the Ohio Casino Control Commission, which oversees the four casinos and sports betting at casinos, racinos, and online, to remove player props<\/a> involving college student-athletes. The NCAA and Gov. Mike DeWine (R) requested the change on claims that props based on a college player’s performance puts student-athletes at heightened risk. The concerns center on athletes being verbally abused on social media and harassed and threatened at games.<\/p>\n<\/div>\n

The OCCC said college player props accounted for 1.5% of the money bet on sports last year.<\/p>\n

Casino Cooldown<\/b><\/h2>\n

Last year was another record-breaker for the U.S. commercial gaming industry. Nontribal casinos, sportsbooks, and iGaming sites won $66.5 billion<\/a> \u2013 a 10% year-over-year increase.<\/p>\n

This year, however, didn’t begin as industry stakeholders had hoped. January brick-and-mortar revenue declines<\/a> were felt in a slew of states, including New York, New Jersey, Pennsylvania, Louisiana, Mississippi, Indiana, Michigan, Maryland, and Massachusetts. Win on the Las Vegas Strip<\/a> was also down.<\/p>\n

Overall gaming spending nationwide remains robust, as revenue from online operations has offset in-person losses.<\/strong><\/p>\n

But brick-and-mortar customers are more valuable to casinos than an iGaming or online sports bettor. They typically make food and beverage purchases, sometimes stay overnight, shop, take in a show, or receive a massage.<\/p>\n

iGaming overhead is much smaller 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-person win.<\/p>\n","protected":false},"excerpt":{"rendered":"

Ohio gaming revenue slowed in January 2024.<\/p>\n","protected":false},"author":25,"featured_media":312850,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[62,86430],"tags":[13363,82124,85044,81911,86289,80968,84262],"acf":[],"yoast_head":"\nOhio Gaming Revenue Down Nearly 11 Percent in January<\/title>\n<meta name=\"description\" content=\"Ohio gaming revenue in January was down nearly 11% to begin the new year. 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