Ohio's Casinos See $162.2 Million in Revenue in July
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Ohio's Casinos See $162.2 Million in Revenue in July

Ohio's Casinos See $162.2 Million in Revenue in July

https://www.onlinecasinogems.com/us/slotsOhio’s casinos have had a successful July with revenue peaking at $162.2 million.

The numbers show a year-on-year growth of 2.3%, making it clear that Ohio’s gambling community is set to flourish as time passes.

The JACK Thistledown Racino made significant revenue improvements for the state, showing its GGR (gross gaming revenue) increased by 15.3% over last year’s figures, reaching $12.3 million.

JACK Casino in Cleveland reported a year-on-year increase of 7.3%, bringing in a total of $17.1 million.

Slot machines in Cleveland brought in the most money for the month, with revenue rising by 3.3% to reach $91.9 million. 

$70.4 million came from slots and table games in land-based resorts, showing a steady 1% revenue increase.

Hollywood Toledo’s GGR came in at $400,000 more than the previous year at $17.2 million, while Hollywood Columbus saw a profit increase of $500,000, making $19.4 million in July 2019.

Despite the efforts of MGM International, however, it’s profits for the month took a turn for the worse.

MGM Northfield Park reported a drop of 5.8%, a downward trend that has been reportedly ongoing for the last three in four months.

The Las Vegas company is said to be considering selling some of its assets in an attempt to restructure and regain control. 

Regardless of MGM’s struggle, it is thought that Ohio will be next on the list to introduce sports gambling.

Five Ohio senators introduced a bill in July 2018 to fully legalize sports gambling.

Then, in April 2019, two lawmakers followed this up by introducing a bill to regulate sports betting in the state, which also calls for a 10-percent tax to be applied which will be spent on education and gambling addiction programs.

The plans may be delayed this year, but are set for launch in the near future.

With nearby state Pennsylvania now allowing online casinos, Ohio will likely start to test and introduce new gambling laws pretty soon.

Even without regulation, Ohio boasts a whole range of online casinos that the government does not seem to meddle with, and therefore, the sites do not pay tax.

Using geo-locators in the same way New Jersey does could help the state bring in millions of dollars of extra money to be spent on worthy causes such as public education.

Currently, Pennsylvania is America’s second-largest commercial casino revenue state, bringing in $3.2B last year.

Much of this comes from casino fees, with properties paying $10 million each to launch and operate online games

At the time of writing, 11 gambling companies are operating in Ohio.

Seven of those are known as racinos, offering both casino-style games and horse racing odds.

30% of revenue from the state’s lucrative gambling scene goes directly to the state in the form of taxes.

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