After eight years in operation, Ohio casinos continue to climb up in terms of total gambling handle, posting a record $1.94 billion in 2019.
Ohio Gambling Facilities Remain Strong in 2019
A decade ago, casinos in Ohio generated a mere blip in the total gambling handle of the nation – both legal and illegal. Fast forward to 2019, and Ohio has done an outstanding job, collecting $1.94 billion in total gambling revenue, and becoming one of the most prolific states to have done so in the U.S.
With some 13 states having the legal right to accept sports betting, the results look very impressive in Ohio. In fact, the state has collected $11.9 billion since the first casinos arrived in 2012. And these figures only include the total handle generated through wagers, excluding any additional profits through the sale of drinks, food, accommodation and other services.
A Breakdown of Ohio’s Gambling Market in 2019
According to data released by the state’s gaming regulators, Ohio’s casinos have contributed estimated $650 million in tax payment in 2019 alone. Even though the last racinos appeared in 2014, the state’s total handle has been climbing up without a fail for eight straight years now.
The biggest jump was felt in 2012-2013, when Ohio managed to add over $670 million more year-over-year (YOY), and since 2014, the revenue has been climbing at a more moderate, but yet reassuring pace.
Even if revenue was to drop in 2021, it wouldn’t necessarily be because of loss of interest. Rather, the United States is now expecting to host as many as 30 sports betting states within a year or two, making the market more domesticated based on the state of residence of each sports fan.
Ohio isn’t relying on gaming solutions, and the state’s lawmakers are pushing for legalizing sports wagering as well.
Hitting it Big with MGM Northfield Park
Looking at the 2019 results, a handful of casinos took the lead in terms of total generated handle, and specifically:
- MGM Northfield Park – $253.6 million
- Hollywood Casino Columbus – $229.2 million
- JACK Cleveland Casino – $212.1 million
MGM Northfield Park revenue did slide by $2.3 million year-over-year (YOY), becoming only one of two properties to do so in 2019. The Hollywood Casino Toledo also slipped as well to $202 million from $202.7 million last year.
All of these numbers constitute just temporary upsets, and as the industry matures, it’s far more likely that casinos’ numbers will remain slightly volatile. Yet, the steady growth in Ohio has been reassuring enough to help locals benefit from the industry.
With nearly half the nation already having access to easy sports betting options, it’s easy to see why as the market matures, some profit margins may get hit.