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Illinois Betting Tax Increase May Inspire Similar Moves in Other States
Ohio Casinos Mark the Best Operational Month; Illinois Having Some Troubles
February 17, 2020 TamaraTam
The state of Ohio has just made record-breaking results for January. The state has reported the best performance ever thanks to generated revenues from its 11 casinos and racinos.
At the same time, the situation in the west is far from promising with 10 Illinois casinos starting the year with significant decreases…
More on Figures
Regarding the Ohio results in January, local facilities have made $167 million in profits, which is a 19% increase compared to the same time 2019 ($141 million). It is more than positive for the state which will receive one-third of the total amount.
Each local casino and racino in Ohio has recorded a considerable increase in revenues compared to the last year’s results. Hollywood Casino Columbus has marked the best figures with a total of $20.4 million earnings from table games and slot machines.
The slots only property, MGM Northfield Park, had a peak in revenues of $22.9 million, which is a $1.3 million increase from January 2019.
All these figures come after the Ohio Lottery and Casino Control Commissions announced that the state has recorded an all-time highlight in revenues following FY2019. Eleven Ohio properties have taken $1.9 billion, or 4% increase from the previous year.
According to the opinion of Allen County Auditor, Rachael Gilroy:
“In the last 5 years we’re up about 3 percent and over the last year it’s about 1.8-percent increase from 2019 over what 2018 was. So, we’re conservative in our numbers when we budget for it. We set it at about 1.2-million last year, we were at 1 million 257-thousand.”
Illinois Result
The situation in Ilinois doesn’t look promising… The report unveiled by the state Commission on Government Forecasting and ability shows that 10 casino properties have taken $1.35 billion in 2019, which is a 1.5% decrease compared to the previous year. At the same, the result is 17.3% down from 2012.
Gaming machines contribute to the state budget with the highest percentage, with $1.7 billion generated from slot machines during 2019. These numbers motivate lawmakers to consider gambling expansion across the state.
Gov. J.B. Pritzker spokeswoman Jordan Abudayyeh noted:
“The bipartisan gaming expansion will create jobs and spur economic development around the state while generating revenue to rebuild our universities, community colleges, state facilities, and hospitals. The istration understood the unpredictable nature of gaming revenue and took that into consideration when putting together the revenue projections for Rebuild Illinois.”
The report further explains that decreased casino revenues come from “increased competition resulting from the growth of video gaming.” From the moment when Illinois legalized video gambling, the activity has become one of the most interesting options for bar and restaurant visitors in Illinois.
Source:
„Ohio casinos report record month, Illinois struggles“, Ad Miral, calvinayre.com, February 11, 2020.
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Great figures for Ohio and bad luck for Illinois…I think that Illinois should make a lot of improvements of casino sector and better times will come…