Ohio August Casino Revenue Drops 6%

Ohio August Casino Revenue Drops 6%

The Ohio Casino Control Commission reported the August financial results of the state’s four casinos. Overall revenue amounted to $66.3 million, down 6% as compared to the figures posted for the same month a year ago. In addition, this was the second worst month since the beginning of 2015.

The decline was generally attributed to the nice weather conditions in August. Analysts tend to believe that casino businesses do better when it is too cold or rainy to be outside. Last month, two of the state’s casinos reported considerable drops in revenue, one posted an increase, and revenue at one remained flat compared to the results it posted for the same period a year ago.

Revenue at Horseshoe Casino Cincinnati rose 6% to reach $17.3 million. August was the second best month for the gambling facility in terms of proceeds from gambling activities. It featured a total of 122 table games and revenue from those amounted to $5.9 million. As for slot machines, there were 1,954 of them at Horseshoe Casino Cincinnati. Proceeds from those totaled $11.4 million over the reviewed period.

Horseshoe Casino Cleveland was the gambling venue that posted the biggest decline in August. Revenue dropped 17% to $17.1 million. The facility featured 125 table games last month and they generated a total of $7.4 million. Revenue from slot machines amounted to $9.7 million. There were 1,652 of them within the premises of the Cleveland-based gambling venue.

Revenue at Hollywood Casino Columbus totaled $15.7 million in August. It dropped 13% as compared to the figures posted for August 2014. The casino featured 114 table games last month and they contributed $3.9 million to the overall revenue. Proceeds from the 2,228 slot machines offered at the gambling facility amounted to $11.8 million in August.

As mentioned above, revenue at Hollywood Casino Toledo remained relatively flat last month. It totaled $16.2 million, up only a little less than 2% year-on-year. In August, the casino featured 79 table games and they generated as much as $2.8 million. Revenue from slot machines amounted to $13.5 million. Hollywood Casino Toledo offered 2,050 of those over the reviewed period.

Casino revenue generated by Ohio’s four casinos during the eight months ended August 31, 2015 totaled $545 million. Of those, $173.7 million were contributed by table games. Slot machines generated a total of $371.3 million over the said period.