Today marks the opening of the third racetrack casino in Ohio, as the brand new Miami Valley Gaming welcomes patrons to its casino with 1,600 video lottery terminals. Replacing the old Lebanon Raceway, the new facility is midway between Cincinnati and Dayton. The racetrack part of the property is expected to open early next year.


Miami Valley is a joint effort of Churchill Downs and Delaware North Companies. It joins Scioto Downs Casino and Racetrack and ThistleDown Racino in the increasingly competitive Ohio market. A fourth racetrack casino, Hard Rock Rocksino Northfield Park, is set to open next week. There will ultimately be seven track casinos, limited to VLTs run by the Ohio Lottery, and they compete with four full casinos.


And based on results to date, the racetracks have held their own even without table games and full amenities. ThistleDown is actually the highest-performing gaming property in the state on a win-per-machine basis. In November, daily win per unit at ThistleDown was nearly $385, far greater than any other facility. However, that will be diluted when the Hard Rock Rocksino opens, as it will be the third gaming property in the greater Cleveland market, adding more than 2,200 machines. Hard Rock hopes its name and glitz will draw in patrons.


Scioto Downs also outperforms the full casino in its Columbus market in terms of daily win per unit, again considering gaming machines only.


The following chart summarizes 2013 monthly win per day per machine from slots at the full casinos and VLTs at the racetrack casinos.

 

  Horseshoe
(Cleveland)

ThistleDown
(Cleveland)

Hollywood
(Columbus)

Scioto Downs
(Columbus)

Horseshoe
(Cincinnati)

Hollywood
(Toledo)

January $227.12   $123.64 $154.89   $177.71
February 270.56   157.78 186.19   203.27
March 279.75   173.49 193.00 $255.53 226.90
April 216.00 $331.46 161.23 179.76 219.97 215.66
May 202.36 321.66 148.96 177.30 218.00 198.26
June 202.92 304.80 148.25 181.26 206.12 199.42
July 204.14

327.35

148.44 171.00 231.59 198.36
August 207.31 337.81 145.00 170.08 230.74 205.29
September 202.60 345.06 142.56 166.31 227.73 180.49
October 193.61 361.13 149.18 172.11 211.63 185.52
November 210.78 384.56 155.80 178.70 226.81 198.10