In Ohio, Penn National Gaming’s Hollywood Casino Toledo is undergoing an expansion, including the Barstool Sportsbook. Governor Mike DeWine signed House Bill 29 into law in December, allowing casinos, stadiums, bars and restaurants to apply for a sports betting license. Legalizing sports wagering is expected to help the state compete with neighboring Indiana and Michigan. The new law stipulates the market must be operating no later than January 1, 2023. However, observers said the first bets could be placed “in the summer or fall of 2022,” according to the Ohio Casino Control Commission, which will regulate the industry.
Sports betting is expected to generate $3.35 billion in revenue after several years of operation, according to an Ohio Legislative Service Commission estimate. Net will be taxed at 10 percent, which could produce $7 million in revenue for the state in the first half of 2023 and $24 million in the first full fiscal year, mostly directed to education.
Hollywood Casino Toledo General Manager Brad Hirsch said, “We’ve got our current casino expansion going on right now and that’ll be completed in February, including our new outdoor gaming terrace. This will be the next phase we go into by building a new sportsbook. For those customers who have been going to Michigan from our area, it’s a chance to keep them home and create additional revenue, jobs and opportunity in the area.”
Opened in 2012, Hollywood Casino Toledo features 125,000 square feet of gaming space, with more than 2,000 slot machines, 60 table games and 20 poker tables, plus five restaurants and live entertainment.
