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Certain Gambling Markets Thriving In Wake Of Pandemic

Ohio Operators Saw Best August Revenue In State History

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While many gambling markets are struggling after reopening in the wake of COVID-19, some are doing just fine.

While many of the largest markets on the planet, like Macau, Las Vegas and Atlantic City, are seeing significant drops in gross gambling revenue, markets that are more reliant on locals, and less reliant on tourism, are seeing revenues much closer to its pre-coronavirus levels. Some are even setting records.

Ohio casinos set a record when its four casinos totaled $86 million in revenue in July. The following month, the state’s gambling market as a whole posted its best August in history. The state’s 11 casinos and racinos posted winnings of $172.1 million.

Those figures represent a 4.7 percent increase from August 2019, which was the previous all-time high for the month. Some of the state’s racinos, which only allow betting on slot machines and horse races, saw huge upticks as Jack Thistledown Racinos were up 15.4 percent year-over-year. Hollywood Toledo Casino also saw a $5.7 million bump in revenue.

In Maryland, there is a similar trend. While the state’s casinos aren’t setting records, they are certainly outpacing expectations. In August, the state’s six casinos won $150 million from gamblers, which was only down 3.1 percent year-over-year.

Two of the state’s smaller casinos actually posted gains as Rocky Gap Casino and Hollywood Casino in Cecil County both posted small revenue increases. According to a press release from regulators, August 2020 was the eighth best month in Maryland’s gambling history.

While most of Florida’s gambling is done at tribal casinos, and therefore tough to track, a post on Twitter makes it seem like those markets are thriving as well.

South Florida radio personality Andy Slater posted a picture of the poker room at Seminole Hard Rock Hollywood, which showed a room nearly full of tables and players.

Even in Illinois, where revenues have followed some of the larger downtrends, the numbers don’t reflect how much operators have been forced to sacrifice to follow with new, temporary government regulations.

Despite only being allowed to operate at 50 percent capacity in July, Illinois’ casinos still won about 75 percent of what it won the prior July.

In Nevada, one of the largest gambling markets on the planets, the same trend applies. Revenue from Las Vegas Strip casinos tumbled 39.19 percent year-over-year in July, but Reno’s drop was only 10.22 percent. Sparks, a neighboring city, saw a 2.82 percent jump in revenue.

 
 
Tags: Casinos,   Gambling Revenues,   Ohio,   Nevada,   Maryland,   Florida