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Hollywood Gaming increases revenue in December
By ROBERT CONNELLY
AUSTINTOWN
Numbers for Ohio gaming facilities improved in December, with some citing a lack of wintry weather helping revenue at the state’s 11 facilities.
The Ohio Lottery Commission and Ohio Casino Control Commission posted monthly numbers that featured revenue increases in December both locally and statewide.
The numbers breakdown for Hollywood Gaming at Mahoning Valley Race Course: $68,889,611 credits played in December, up about $2 million; $61,190,894 credits won, also up about $2 million; and a percent payout of 89.60 percent. There were an average of 866 video lottery terminals at play per day at the facility, the second-straight month at that number.
The win per day per VLT was $267; it was $268 in November. Between $200 and $300 is considered good for win per day per VLT, while consistently at $300 or more could lead to expansion, Penn National Gaming Inc. officials have said.
The Austintown racino’s net win was $7,161,256, up about $200,000. The distribution of net win detailed Hollywood Gaming took in $4,738,424. The Ohio Lottery Commission, which runs the state’s seven racinos, took in $2,399,021, and $23,811 went to problem gambling services.
Statewide, there were $711,436,408 credits played, up nearly $41 million, and $634,588,759 credits won, up about $36 million, for a 90.91 percent payout, just 0.10 percentage points lower than November. The state’s win per day per VLT was $202, up from $194 a month ago.
The seven racinos’ net win was $64,700,082 with the racinos taking in $42,810,427, the state lottery commission receiving $21,674,527 and $215,128 going to problem gambling services.
Alan Silver, Ohio University assistant professor of restaurant, hotel and tourism and a casino expert, pointed to Hollywood Gaming in Austintown’s promotional play credits, saying, “They’re still kind of anemic on their free play,” Silver said.
The promotional play credits at the Austintown racino were $537,461 in December, up from $388,327 in November, and have gone up each month since opening Sept. 17. “It wasn’t a fantastic jump, going up $200,000, especially for a December,” Silver said.
Bob Tenenbaum, spokesman for parent company Penn National Gaming Inc., said: “I think you’ll find really nationwide that Penn National believes in promotional credits and uses them all the time, and we tend to be conservative. I just think there are other people that use it a lot more.”
Statewide in December, the seven racinos combined for $12,147,567 in promotional credits, including $490,948 at Penn National’s Hollywood Gaming at Dayton Raceway.
Both Silver and Tenenbaum noted the December weather. “The weather helps, but I think statewide we are seeing this is a very viable market and for all intents and purposes [Ohio gaming is] still in its infancy,” Tenenbaum said.
“The weather will contribute to that and, after the holiday season, things pick up. New Year’s Eve is a good night,” said Silver.
The state’s four casinos took in an adjusted gross revenue of $70,737,623 in December, up from $62,827,728 in October. For the calendar year 2014 — while both the state lottery and casino control commissions run on fiscal years — the four casinos brought in a total adjusted gross revenue of $809,251,917. That is down from the 2013 calendar year, which totaled $821,277,202.
Hollywood Casino Toledo took in about $100,000 less than 2013 in the calendar year 2014 at $183,254,366. Hollywood Casino Columbus earned $3 million less in 2014 than in 2013 at $207,841,284. Penn National owns both of those facilities.
Horseshoe Casino Cleveland took a step back in 2014, having only two months, August and December, that posted better revenue numbers than in 2013. That facility took in $220,395,202 in 2014, down more than $22 million.
Horseshoe Casino Cincinnati, which opened in March 2013, improved by $13 million in 2014 with a full year of operation by taking in $197,761,065 million. Rock Ohio Caesars LLC owns the Horseshoe casinos in a partnership between Caesars Entertainment and Rock Ohio Gaming.