A Disappointing March for Ohio Casinos, Revenues Fall

A Disappointing March for Ohio Casinos, Revenues Fall

Ohio has been experiencing the best revenue figures in the month of March ever since gambling was legalized in the state in 2012. However, this year’s figures have jolted the industry.

What went wrong?

In 2019, Ohio’s racinos and casinos netted $184.2 million in the month of March. However, concerns due to the coronavirus outbreak shut down all properties in the middle of the month. The result is a staggering $112.3 million fall in revenue. Between March 1 and March 13, 2020, all gaming properties in the region brought only $71.9 million home.

The JACK Casino Cleveland experienced a $12.2 million decline and netted $7.58 million last month. The JACK Thistledown Racino witnessed a $7.4 million slump in revenue. However, it was MGM Northfield Park, the biggest player in the state that suffered the most during the month. According to the Ohio Lottery Commission, the MGM property suffered a $14.87 million drop in revenue. In March 2020, its revenue was just $9.6 million, down from $24.48 million made in March 2019.

A Disappointing March for Ohio Casinos, Revenues Fall

The month of April could bring more bad news for the industry as the coronavirus outbreak will keep their premises shut. This would bring many more issues for the state which taxes casinos 33% on their winnings. These taxes go to the Ohio Lottery Commission which use it for the state’s schools while the rest is distributed amongst the 88 counties and cities apart from the state.

A huge roadblock

Ohio’s gambling industry was enjoying a great start to the year and earned $167.5 million in January and $171.4 million the next month. However, March’s number was just $71.9 million, which marked a 61% year-on-year decline. Gov. Mike DeWine imposed restrictions related to coronavirus in the state but the gambling facilities managed to stay open in the early days of the month.

However, on March 13, a directive sought clarifications and plans on how they aimed to stay open while ensuring that the total number of people in their premises, including patrons and workers, remained below 100. Consequently, all 11 premises were closed the next day and the industry faced losses during their otherwise busy weekends.

sherlock

About sherlock

Sherlock Gomes loves to write and express his views on anything related to Gaming, Gambling, & Casino. He has been covering Gaming for more than two years now.

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