Ohio Racinos Surpass $1B in Net Revenues in FY19 as Horsemen Envision Future with Sports Betting

The Ohio Lottery Commission announced the approximately $1.05 billion total this week. It represents net revenues — from the seven racinos in the state — remaining after payout of prizes to players from video lottery terminals between July 1, 2018 and the end of last month.

The amount is an important record for the state, officials said. “Ongoing growth shows the popularity of gaming entertainment in Ohio,” lottery spokeswoman Marie Kilbane Seckers told Casino.org.

It compares to the 2018 fiscal year when gamblers bet about $10.8 billion. Operators took in $987.3 million that fiscal year.

Renee Mancino, executive director at Ohio Harness Horsemen’s Association, agreed in a statement to Casino.org the recent announcement “is … evidence that Ohioans have confidence in the gaming product Ohio’s racinos offer….”

She added the growth “has been steady and consistent in Ohio’s racinos and casinos versus other states…. Ohio has been … conservative and has not expanded the existing casino and racino footprint or laws — for a conservative market saturation effect.

Continue reading the article here.