Ohio Gambling Revenues Up by 11%

Ohio Gambling Revenues Up by 11%

The gambling industry in Ohio announced its latest revenue earnings that showed gains of 11% in revenue growth in February.

Inflation to trim future revenue

Meanwhile, analysts decried that future earnings would be impacted. They predict that slow and sluggish revenue growth would be prevalent among the traditional land-casinos.’ He attributed ‘inflation’ to be the likely cause and likely slow growth.

Clark states, “Certainly people have a limited amount of discretionary income, and I think that will no doubt determine how they’re choosing to spend and what they have to spend on their entertainment options,” said Clark, according to the cited source.”

On the contrary, the American Gaming Association Senior VP states that the prediction is too early in the current scenario. But, he does reassure that the overall developments will have to be considered. A ‘keen eye’ will be maintained to ensure that industry stakeholders are not hassled by economic development.

Revenue earnings

Thus far, revenue earnings have come in from Jack Cleveland Casino. The gaming provider announced that the slot machine revenue had decreased compared to its January revenues. February, the slot machine revenue reported stands at 10.4 million. Meanwhile, table revenue performance was better. It posted an increase, growing from $7.9 million to $9.8 million.

Besides, the year-on-year performance had increased for the month of February by 1%. In February 2021, the 122 tables were comparatively higher than the 76 used during the Covid-19 restrictions.

Racino’s too earned good revenues

However, in Cleveland, February was a better month for racinos. As a result, there was an increase in revenue compared to last year. Meanwhile, the casinos and racinos in Cleveland reported $179 million, reporting a gain of 16.7%.

The US gaming industry has grown in strength, especially online.

However, the land-casino have mixed results since the COVID restriction and non-gaming months have impacted them.

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.