In May, the revenue of the individual casinos in Ohio reached $84.6 million, which is significantly higher than in April but still indicates a progressive increase in the casino business during this period. This figure not only demonstrates the robust performance of Ohio’s current gambling market, but also underscores the immense unrealized potential due to the absence of online casinos in the state.
The casino industry in Ohio remains resilient despite the lack of online gambling, and state legislators have already acknowledged this, leading to the implementation of new measures to legalize online gambling in the state. The Ohio Study Commission on the Future of Gaming is conducting research to determine the impact and benefits of liberalizing the laws on online casinos in the state. Experts are convinced that Ohio has the potential to quickly become one of the most important markets in this segment, based on previous data from other states that have legalized iGaming.
The May results of individual casinos serve as a significant reference point for more news on online casinos in the USA. Among all the standalone casinos, Hollywood Columbus was the most profitable, with a total revenue of $23.6 million. During this period, however, only Hollywood Toledo saw its revenues drop. A subsequent breakdown showed that Jack Cleveland fared much better in table games, while slots remain the cash cow for all the involved casinos.
It was estimated that Ohio could potentially earn over $200 million per month from online gambling by analyzing the per capita revenue of every state that has legalized online casinos, such as Pennsylvania, Michigan, and New Jersey. Indeed, projections indicate that this sum could potentially exceed $226 million. Additionally, these predictions account for Ohio’s substantial population and current revenues per capita.
It is important to point out that the legalization of Ohio’s online casinos could significantly increase the state’s gaming revenues. Currently, Ohio gets most of its gambling income from online and physical casinos, amounting to $100 million. However, given the growing popularity of iGaming in the country, Ohio has the potential to significantly boost its gaming revenue by embracing online platforms. This could be a favorable opportunity for Ohio to take full advantage of this trend and make huge profits from online betting.
While deciding whether to legalize online casino games in Ohio, legislators will have to consider their potential economic effects. Having analyzed the effectiveness of land-based casinos in the state and the outlook for Internet gaming, one can conclude that Ohio has a great chance to become a significant player in the sphere at the moment. This could lead to record-breaking revenues and greatly improve the state’s economic situation.