Scioto Downs Casino table games

Ohio’s racinos pull ahead of casinos for gaming revenue
April 3, 2016 – 02:45 am
Scioto Downs Racino

Gamblers play the slots at Hollywood Casino Columbus.

Janet Adams

With Ohio’s seven harness-racing facilities open and building customer bases, the state’s four casinos gave up the gaming crown in April.

Hollywood-branded casinos in Columbus and Toledo, along with Horseshoe facilities in Cincinnati and Cleveland, generated $69.5 million in revenue after paying out winnings, according to a new monthly report from the Ohio Casino Control Commission.

Scioto Downs and the state’s six other racinos, meanwhile, raked in $70.5 million, according to a report from the Ohio Lottery Commission, marking only the second time in Ohio’s three years of legalized gaming that racinos beat out casinos - the other being last October.

In Columbus, Eldorado Resorts Inc.’s (NASDAQ:ERI) Scioto Downs Racino pulled in revenue of $12.4 million in April, up nearly 8 percent from $11.5 million a year earlier.

A dozen miles away, Penn National Gaming Inc.’s (NASDAQ:PENN) Hollywood Casino Columbus kept $18.6 million after paying out winnings, up about 7 percent from $17.4 million in April 2014.

Though Hollywood reined supreme in Columbus, Scioto Downs out-earned it with slot machines. Scioto Downs’ 2, 146 slots generated $12.410 million compared to Hollywood’s 2, 237 that pulled down $12.399 million.

However, if Scioto Downs had paid out customers at Hollywood’s rate, 91.71 percent, instead of its own, 91.11 percent, it would have generated only $11.572 million.

Source: www.bizjournals.com
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