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The latest poker news from, featuring top stories from around the gambling industry.
Racino revenue has been in decline in Ohio for the past four years. The fall began after the opening of Hard Rock Rocksino in December 2013, the largest racino in the state. However, based on the latest report from the state Casino Control Commission, the market may be entering a period of recovery.
All four state racinos posted revenue increases in March – something that has not been seen in the state in more than two years. March was the highest-earning month for the state gaming industry since the casinos first opened.
Jack Cleveland Casino, which was arguably the most affected by the market saturation of 2013, reported a 10.4 percent year-over-year increase in revenue in March, reaching $20.1 million for the month. The Hard Rock Rocksino remains the state’s highest-earning gaming venue at $23.3 million in March, an 8.1 percent increase over revenues in March 2017.
According to industry analysts, the sudden turnaround of Ohio’s gaming industry and racinos, in particular, can be partially attributed to a change in weather. Winter storms and freezing temperatures subsided in March, which saw the return of many gamblers who had not visited in months.
Another factor, say analysts, is the extra weekend in 2018 compared to 2017. Even though it is not enough to account for the increased revenue, it is a reminder that more time is needed to declare the state’s gambling slump officially over. Revenue figures from April, May, and June, especially during the World Series of Poker, will be essential in assessing the recovery of racino revenue.