In October, Ohio’s 11 casinos and racinos again posted record revenue since reopening after Covid-19-related closures from March to June, according to the Ohio Casino Control Commission. Besides that period, the venues set records in every month this year. The casinos and racinos produced revenue of $169.1 million after paying out winnings, an increase of 6.7 percent from $158.4 million in October 2019. About one-third of the funds go to the state as taxes or fees.
Hollywood Casino Columbus led the rest with $20.3 million in October revenue—beating out MGM Northfield Park, the leader in September.
In the Cleveland market, October revenue rose 5.8 percent to $52.9 million. Revenue at JACK Thistledown Racinos increased 16.4 percent to $13.8 million; at JACK Cleveland Casino, revenue rose 11.9 percent to $18.7 million; and at MGM Northfield Park, revenue dropped 5 percent to $20.3 million.
The seven racinos only may offer chance-based video lottery terminals. The totals reported by the e Ohio Lottery Commission, which regulates the racinos, do not include what is taken in from racing bets.
Meanwhile, Ohio is the only state that still could legalize sports betting this year without a voter referendum. However, three of the sponsors of a sports betting bill will not return for the 2021 session. State Senator John Eklund has been term-limited out and state Senator Sean O’Brien and state Rep. Dave Greenspan were not re-elected. The first full House and Senate sessions will occur on November 17, with both chambers having 10 sessions before adjourning on December 22.
Eklund’s SB 111 would allow statewide mobile wagering; it does not mandate the use of official league data and it sets the licensing fee at $100,000. It would tax sports wagering revenue at 6.25 percent and put the Casino Control Commission in charge. The fiscal note on SB 111 estimates the state would take in $1.2 million in license fees in the first year; tax revenue would reach $20 million by 2022 and then grow “modestly.”
In comparison, Greenspan’s HB 194 sets a tax rate of 10 percent and makes the Ohio Lottery the regulator. The House bill also would require the Lottery to install 1,250 sports betting terminals within 90 days of the bill’s effective date, and another 1,250 within the next 90 days. Observers said a compromise draft has been circulating, with a tax rate of 8 percent. The fiscal note on HB 194 estimates the state would take in $1.3 million in license fees in the first year and overall tax revenue from sports betting would be “relatively small” but could reach $23 million per year by 2023.
HB 194 will be the bill that moves forward. It passed the House in June 2020 and was sent to the Senate. SB 111 was introduced in March 2019 and referred to committee, but it hasn’t moved since October 2019.
