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Ohio’s four land-based casinos struggled to keep up with May revenue, dropping 3.5% month-on-month in June, the Ohio Casino Control Commission’s latest data noted. This isn’t surprising, though, as gambling markets typically struggle with revenue during the summer.
Key takeaways
- At a 20% tax rate, online casinos could bring in $500 million a year in tax revenue.
- Ohio’s four land-based casinos generated $81.6 million in June.
- Year-on-year, casino revenue was down 1.5%.
Could we see Ohio online casinos in 2025?
Online casinos are a hard sell in most states for two main reasons: casinos push back against them for fear of land-based revenue loss, and anti-gaming advocates say that legalization will increase problem gambling.
Ohio has been no different. As PlayUSA legislative reporter Matthew Kredell pointed out this past month in his coverage of Ohio’s debate over online gaming, legislators have expressed concern over iGaming’s impact on brick-and-mortar casinos and problem gambling rates.
Additionally, there is concern that introducing online casinos could put Ohioans’ personal information at risk.
However, in the way of a study examining the impact of gaming expansion in Ohio, three Republican lawmakers advocated for online casinos and iLottery. Among their arguments was that iGaming would generate considerable tax revenue.
To understand how much tax revenue online casinos could bring the state, let’s consider how much revenue iGaming would earn. Based on PlayUSA’s projections, Ohio online casinos could bring home $190 million in a slow month such as June:
| State | June online casino revenue | Population (according to 2023 Census Bureau data) | Per-capita revenue |
|---|---|---|---|
| Pennsylvania | $195.6 million | 13 million | $16.65 |
| New Jersey | $186.8 million | 10 million | $19.86 |
| Michigan | $183.2 million | 9.3 million | $20.65 |
| Connecticut | $33.7 million | 3.6 million | $12.86 |
| West Virginia | $18.5 million | 1.8 million | $9.94 |
| Delaware | $5 million | 1 million | $3.90 |
| Average | $103.8 million | 6.5 million | $15.97 |
| Ohio (projected) | $190 million | 11.9 million | $15.97 |
Not only would online casino legalization make Ohio one of the biggest markets in the country (a distinction it already has for online sports betting), but it would also create considerable tax revenue.
If lawmakers chose to tax online casino revenue at the same 20% rate as sports betting, PlayUSA predicts the state could receive nearly $500 million in yearly iGaming tax revenue.
Hard Rock, Hollywood Columbus keep monthly losses at -3.5%
All four land-based casinos saw revenue declines in June compared to Ohio’s May 2024 gaming revenue.
However, they avoided significant losses thanks to Hollywood Columbus and Hard Rock Cincinnati. The two casinos kept their numbers relatively consistent, dropping just $460,265 combined.
Jack Cleveland struggled the most in June, seeing its revenue stumble 7.5%, or $1.6 million. Hollywood Toledo’s revenue dropped around $931,000 from May to June, or 4.9%.
| Casino | Slots revenue | Table games revenue | Total revenue |
|---|---|---|---|
| Jack Cleveland | $12,031,840 | $7,673,115 | $19,704,955 |
| Hollywood Columbus | $18,101,834 | $5,309,186 | $23,411,020 |
| Hard Rock Cincinnati | $13,834,753 | $6,393,187 | $20,227,940 |
| Hollywood Toledo | $15,807,304 | $2,438,680 | $18,245,984 |
| Total | $59,775,731 | $21,814,168 | $81,589,899 |
While Ohio casinos saw losses in total revenue, there were two positives. Hollywood’s Columbus and Toledo properties saw their table revenue rise slightly.
Year-on-year, revenue was down 1.5% from $82,802,342 in June 2023 to $81,589,899 this past month.
