Revenues rise in May at 3 of 4 Ohio casinos

Revenues rose last month at three of Ohio’s four state-authorized casinos, including Hollywood Casino Toledo.

However, a big drop in the gaming revenues at the Jack Cleveland Casino caused overall revenues at the four casinos to decrease in May, according to the Ohio Gaming Commission.

The commission released its monthly revenue report on Thursday and it showed that gamblers spent $17.5 million last month at the Toledo gaming establishment, which is owned by Penn National Gaming.

That was up less than 1 percent from May, 2017, when the casino took in $17.3 million. But it represented the best May take in the casino’s six years of operation and followed the best ever April at the Toledo casino.

To the south, revenues also were up just under 1 percent at $18.6 million at Penn National’s other gaming property, Hollywood Casino Columbus.

At the Jack Cincinnati Casino, owned by Jack Entertainment, gaming revenues likewise increased by just under 1 percent to $17.1 million compared to a year earlier.

But those slight increases at the three casinos couldn’t offset the decline in revenues in May at the Jack’s Cleveland Casino. The property had decreased revenues in April and that was the case again in May with revenues dropping 10.5 percent to $15.6 million.

That was the property’s worst revenue performance for May in its six years of operation and followed its worst ever April.

A spokesman for Jack Entertainment said that the Cleveland casino began renovations in April with large sections closed until later this month. Also, Jack owns both the Cleveland casino and Jack Thistledown Racino. The two properties are just 12 miles apart but offer guests a loyalty program good at both sites.

“With two properties and a shared … loyalty program in the Cleveland area, Jack Entertainment evaluates the gaming revenues of our businesses as a combined market,” spokesman Aleksandra Koryzno said. Revenues at Jack Thistledown were up 5.3 percent in May at $10.8 million.

But as a result of lower revenues at the Cleveland casino, statewide gambling revenues for May at the four casinos in Ohio were down 2.1 percent at $68.7 million. However, through May overall casino revenues are up 1.5 percent at $353.4 million.

The commission’s reports include only revenue derived from gambling. Revenue collected from the sale of food, drink, merchandise, and event tickets are not included in the state reports.

Separately, the Ohio Lottery Commission, which oversees gambling revenues at the state's seven racinos that pair slots and video gaming, earlier reported May revenues of $84.8 million. That was up 2.2 percent from May, 2017.

http://www.toledoblade.com/business/2018/06/07/Casino-revenues-up-slightly.html