Seven Ohio state senators have created a Select Committee on Gaming to take testimony on both sports betting and electronic bingo.
Senate President Matt Huffman said the committee’s purpose is to ascertain how legalized markets work and the economic impact they could have in the state.
Eric Schippers, an executive with Penn National Gaming, testified on February 10. “We firmly believe legal sports betting has the potential to provide a meaningful shot in the arm to Ohio’s gaming industry and to provide a new revenue stream to fund education or other important state programs,” said Schippers, whose client operates casinos in Columbus and Toledo and racinos in Dayton and Youngstown.
Rick Limardo, a lobbyist for MGM Resorts International, said failing to approve sports betting will keep the illegal market thriving without consumer protections and revenue for the state.
Both lobbyists asked that legalization include a tax rate competitive with nearby states and limiting licenses to existing casinos, according to the Ohio Capital Journal. Major casino companies have security systems which can crack down on fraud, money laundering and black market operations, something local taverns or bowling alleys could not afford to do.
