Lawmakers in the state of Ohio took their time allowing casinos to reopen. July was the first month that gambling venues were able to operate here. Fortunately, Ohio’s gaming revenue in August reached an all-time high.
It’s fantastic news for casino companies operating in this part of the country. Ohio is one of the only states to see its gambling revenue increase. Today, we’re going to talk about exactly how much the casinos in this state managed to generate.
Let’s get into it!
Online Gambling Continues to Surge Around the US
For the past few years, land-based casino revenue around the United States has been surging. Cities like Atlantic City and Las Vegas were seeing their tourism rates increase. Exciting new gambling venues were popping up around the country.
Most felt this trend would continue in 2020. In March, however, all of the country’s casinos were forced to shut down. At that point, no one could accurately say when these casinos would be allowed to open again.
As the months went on, more states began to realize that reopening their casinos was a necessity. That’s particularly true in Nevada. The casino industry here employs a huge number of individuals and brings the state massive amounts of revenue.
Most states have now allowed their casinos to begin operating again. Interestingly, the popularity of online gambling continues to grow more popular. Thanks to sites like Bovada, more people around the country are choosing to make their wagers online.
Areas of the country with regulated online gambling industries are profiting massively off this surge. More states are now looking into bills to legalize and tax different gambling sites. Others are simply focused on increasing their land-based gambling revenue.
It appears the latter strategy is working over in Ohio.
Here’s a Look at Ohio’s Gaming Revenue in August
Ohio is home to several popular gambling establishments. Like all other states, Ohio forced these properties to shut their doors in March. Lawmakers here agreed to allow casinos to begin accepting guests again in July.
July was a very successful month for the state’s gambling industry. Ohio’s casinos and racinos managed to bring in $86,407,151 that month. To the surprise of everyone, that marked a sharp increase from the revenue earned in July of 2019.
Ohio’s gaming revenue in August was even higher. The 11 gambling venues in this state brought in an incredible $172.1 million over the entire month. Once again, that’s a sharp increase from the same month last year.
The Hollywood Toledo Casino proved to be the most successful pure gambling venue in the state. It brought in $22.9 million over the month. The majority of this money came from slot games.
MGM Northfield Park ended up being the most successful racino in Ohio. $19.3 million was made from the slot machines inside this venue. Incredibly, the property saw a payout percentage of 90.7%.
Things are looking great for the casinos here. Not many analysts predicted that Ohio’s gaming revenue would increase so quickly. More casino companies may begin looking into the possibility of opening new properties in this state.
More Lawmakers Are Now Pushing to Regulate Sports Betting in Ohio
With PASPA now gone, it seems like another state announces a bill to regulate its sports betting industry every single month. That’s particularly true in 2020. A huge number of states are now earning valuable revenue from this regulated form of gambling.
Ohio is embracing its gambling industry in a way like never before. Lawmakers have been pleased to see how much money is being made from the state’s casinos. Some officials here now believe that it’s time for Ohio to regulate sports gambling.
It’s well-known that Ohio has one of the most passionate sporting fan bases in the country. Several successful professional teams including the Bengals, Reds, and Cavaliers are all located here. Many analysts predict this state could grow to have one of the largest sports betting markets in the country.
The states above and to the west of Ohio have already chosen to approve sports gambling bills. At a time when money is needed more than ever, most feel Ohio will begin regulating this industry, as well.
Are you surprised to see that Ohio’s gaming revenue in August increased once again? Is 2020 the year that sports betting becomes regulated here? Let us know what you think in the comments section below!
Kevin Oldroyd
A longtime sports and gambling enthusiast, Kevin looks to present up-to-date and reliable information for readers. If he’s not writing, he’s probably watching MMA or playing blackjack. …
