Racino Revenue Feels the Chill in January
AUSTINTOWN, Ohio – Play on video lottery terminals at Hollywood Gaming at Mahoning Valley Race Course in January was nearly $3.7 million less than the same month a year earlier and down from December’s total by almost $4.2 million.
VLT wagers in January totaled $85.8 million, down from just over $90 million in December. Last month’s total also was below the $89.5 million wagered in January 2017. On average, 986 video slot machines per day were operating in January 2017 compared to 1,034 units per day last month.
Statewide, VLT play in January — $799.3 million – was also down from December when it totaled $867.4 million. January’s figure represented a modest increase from $794.6 million in January 2017.
Credits won – what players took home – were also down in January. Winnings were $75.9 million compared to $79.6 million in December and $79.8 million in January 2017.
Net win, or net gaming revenue, while down from December, was up year-over-year. Net win is what the racino operator — in this case, Penn National Gaming Inc. – and the Ohio Lottery Commission, which oversees VLTs in Ohio, split.
Net win in January was $8.79 million, down from $9.26 million in December but up from $8.44 million in January 2017.
Penn National’s take last month was $5.81 million, with $2.94 million going to the lottery commission and $29,210 to problem gambling services.
Copyright 2023 The Business Journal, Youngstown, Ohio.