The big four casinos that are operating in the Buckeye State posted a combined taxable revenue of $94.7 million for the month of March 2024.
According to a report that was disclosed by the Ohio Casino Control Commission (OCCC), the revenue acquired in March equated to a 13.4% increase compared to February’s figures amounting to $83.5 million. Annually, the $94.7 million represents a 1.4% annual increase for the state.
What were the Figures of the Four Ohio Casinos?
Among the four operating casinos within the state, Hollywood Columbus reaped the most revenue for the month of March 2024 at $25.6 million. This is followed by Jack Cleveland Casino, raking in $24.5 million, then by Hollywood Toledo with $22.5 million. Lastly, Hard Rock Cincinnati’s revenue yielded $22.2 million.
The numbers from the four casinos, when compared to last year’s annual statuses, revealed that three of the four casinos showed some growth for this year. Hollywood Toledo had an annual rise of 8.2%. Hollywood Columbus showed a 5.1% annual rise, while Jack Cleveland Casino saw a 0.4% annual increase. Hard Rock Cincinnati reported a nearly 7.5% annual drop and is the only casino that displayed a noticeable decline in their year-to-year numbers.
It is worth noting that the taxable revenue from the four Ohio casinos came from slots and table games and did not include in-person sports bets. The same report noted that slot revenue was $69.0 million, while table games netted $25.7 million.
Are Online Casinos Legal in Ohio?
While Ohio has allowed and regulated traditional casinos within their jurisdiction, online casinos are still illegal in the Buckeye State. But that does not mean that the prospect of having online casinos being legal in the state is not possible.
Back in February 2024, the Study Commission on the Future of Gaming in Ohio was created, with its goal being the legalization of online casinos and its various iterations that include iLottery, racinos/charitable gaming, sports betting and daily fantasy sports.
Rep. Jay Edwards and Sen. Nathan Manning led the eight-person joint committee that will discuss the possibilities of the aforementioned online casino agenda. However, Edwards noted that he did not expect the Ohio online casino discussions to lead to legislation this year. These were preliminary talks to inform possible future legislation.
One of the main reasons supporters of online casino legalization in Ohio is that once it has been legalized, having a regulating body for it could help address problem gamblers and promote responsible gambling. Moreover, online casino advocates keep noting that if online casinos are legalized, the state could potentially generate between $205 million and $410 million annually in new tax revenue.
Others note that legalizing iGaming and online casinos might lead to the cannibalization of the state’s gambling market. However, studies that observed the gambling landscape of the six USA states that have legalized online casinos have shown that there is no cannibalization that has occurred, and that traditional casinos and its online counterparts can carve their own niche and work together to generate revenue.
Which States Have Legalized Online Casinos?
While Ohio is still considering the possibility of legalizing online casinos in their territory, other USA states that have legalized online casinos have been reaping its revenue from their respective markets.
This includes New Jersey, Delaware, Pennsylvania, Michigan, Connecticut, West Virginia, and more recently Rhode Island.
Last Updated on by jonathan r
