Racinos’ revenues via video lottery terminals over $1B
Seven sites in state pass milestone for first time; numbers up from 2018.
It has been a milestone year for Ohio’s seven racinos.
Buckeye State racinos, or racetrack casinos, recorded nearly $1.1 billion in video lottery terminal revenue in fiscal year 2019, the first time that number has exceeded $1 billion.
The Ohio Lottery Commission will get $354,643,983 from the revenue.
“It’s the first time we’ve exceeded $1 billion in net wins,” said Danielle Frizzi-Babb, a spokeswoman for the Ohio Lottery Commission. “We’re proud that our VLT (Video Lottery Terminal) facilities continue to perform well.”
In fiscal 2018, the statewide revenue was $987,297,088.
The revenue represents net gaming revenues remaining after payout of prizes and promotional credits.
At Hollywood Gaming Dayton Raceway, 777 Hollywood Blvd. (Needmore and Wagner Ford roads), revenue for the JulyJune fiscal year was $110,696,527. That’s an improvement over the $103,498,790 in fiscal 2018 and the $94,959,137 notched in fiscal 2017.
At Miami Valley Gaming, between Lebanon and Monroe, the net win was $171,565,839. That’s up from $151,563,639 in fiscal 2018 and $143,774,702 in fiscal 2017.
The Ohio Casino Control Commission also reported June results for Ohio’s four casinos. Statewide through June, casino revenue is $427,871,924.
Ohio gaming supports nearly 20,000 jobs statewide and has a total economic impact of $3.6 billion, according to research presented by the American Gaming Association in May 2018 at a conference at Miami Valley Gaming.
That study said the industry generated $594 million in taxes
in 2017, with just over $800 million in wages.
“Gaming is mainstream entertainment for millions of responsible adults across the country, and the growth of gaming in Ohio is a great example of that,” Casey Clark, a spokesman for the American Gaming Asso- ciation, said in an e-mail. “In only its first ten years of operation, the industry has contributed billions of dollars to local communities, produced hundreds of millions in tax revenue and most importantly supported nearly 20,000 jobs for Ohioans across the state.”
In 2009, Ohio voters approved a constitutional amendment allowing casino gambling in the state, but the first casinos did not open until 21/2 years later.
The Horseshoe Casino Cleveland opened May 14, 2012, followed by Hollywood Casino Toledo, which opened May 29, 2012.
The constitutional amendment was followed by an executive order allowing video lottery terminals at racetracks or “racinos.”
The Dayton Daily News reported last year that racino revenues have affected casino revenues that were projected when voters agreed to allow them in Ohio.
The VLTs added instant competition to casinos in Cleveland, Cincinnati, Columbus and Toledo and dug a deep hole in the possible tax revenue generated by those four gaming centers. Experts say the recession changed gambling habits as well, though racino revenues have grown steadily in recent years while the casino revenue has stayed flat.
Last year, the adjusted gross revenue from Ohio’s four casinos totaled $818 million – less than the $987 million in net revenues the seven racetracks took in from their VLTs in the most recent fiscal year, the Day- ton Daily News investigation found.