Ohio racinos enjoy another year of revenue growth helped by expansion

Miami Valley Gaming is spending $5 million to open a new gaming and smoking patio and the racino is also renovating its high-limit area.
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Miami Valley Gaming is spending $5 million to open a new gaming and smoking patio and the racino is also renovating its high-limit area.

Ohio’s racinos had a record year in fiscal year 2017, increasing revenue for the seven gambling and race track combination venues by $57.7 million over the previous year.

Ohio’s racinos brought in more than $926.6 million last year, their most profitable year so far, fiscal year-end reports released by the Ohio Lottery show. That’s up more than 459 percent from $165.5 million in 2013, the first full fiscal year racinos were legal in Ohio.

“We’re proud of the continued success,” said Danielle Frizzi-Babb, deputy director of communications for the Ohio Lottery. “This was another record year.”

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The growth in racino revenue can mostly be attributed to new offerings, Frizzi-Babb said. Ohio’s racinos are offering more games and amenities than they have in past years, she said, including a hotel that recently opened at Scioto Downs in Columbus.

Miami Valley Gaming in Lebanon is in the midst of renovating its high-limit betting area while also building a new $5-million outdoor gaming and smoking patio, said Jerry Abner, director of marketing for the racino. The new patio and betting area is expected to open sometime in late fall.

“Overall, we’re very pleased with our continued success,” Abner said. “It’s a very competitive market so it speaks volumes that guests choose Miami Valley Gaming.”

Southwest Ohio’s racinos collectively raked in more than $25 million in net revenue during fiscal year 2017, which ended June 30. The more than $25 million is what racinos brought in after prize payouts and promotions, according to the state.

In southwest Ohio, Miami Valley gaming had the largest increase from the end of fiscal year 2016 to the end of fiscal year 2017. The racino generated around $12.7 million more in net revenue over last year.

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Hollywood Gaming at Dayton Raceway was second in the region, bringing in more than $7.1 million more this past year than the year before. Bellterra Park in Cincinnati came in third, generating more than $5.1 million more this year than last year, according to reports.

Continued success may already be happening, a revenue report from July, the first month of fiscal year 2018 shows. Last month, Ohio’s racinos generated more than $84.5 million in revenue, just under $4.5 million more than in July 2016, according to the most recent reports from the Ohio Lottery.

Net revenue at Ohio’s four casinos is also up this year, but not as much as that of racinos. As of the end of July, Ohio’s casinos brought in more than $482 million, just under $2 million more than at the end of July 2016, according to reports from the Ohio Casino Control Commission.

Every Ohio casino saw an increase in revenue in July 2017 over July of 2016, bringing in a total haul last month of $69.8 million, according to reports from the control commission.