Overall, casino revenues were up slightly in November, but that can be attributed to the Columbus casino’s first full month of operation. Revenues at the Toledo and Cleveland casinos, as well as the racino at Scioto Downs, continue to decline.
For the Horseshoe Casino in Cleveland, the drop in adjusted gross revenue (AGR) was not as precipitous in November as past months. The AGR fell from $20.8 million in October to $20.5 million in November, a decrease of 1.4%. Since June, the first full month of operation for the Horseshoe Casino, revenues have declined 21%.
For the Hollywood Casino in Toledo, the drop continues to be dramatic. The AGR fell from $14.8 million in October to $13.6 million in November, a decrease of 8.1%. Since June, revenues for the Hollywood Casino have dropped 33%. The Toledo casino faces competition from Detroit venues.
The racino at Scioto Downs saw its AGR dip below $10 million, to $9.8 million, for the first time since it opened in July. That represents a 26% drop since last month.
Meanwhile, the Hollywood Casino in Columbus, in its first full month of operation, saw an increase in its AGR, going from $18.2 million in October to $20.8 million in November, a 9% rise.
Experts state this is typical in that November and December are slow months for the industry.