CLEVELAND, Ohio – Ohio’s on line casino and racino trade bought off to a stable begin in its return to enterprise in mid-June, however three months of closings tied to the coronavirus has left the trade practically $500 million in playing income behind the place it was on the identical level final yr, studies launched Tuesday confirmed.
This interprets to a lack of about $160 million in charges and taxes the amenities pay the state, a lot of which is forwarded to native governments and colleges.
The 11 casinos and racinos have been closed from March 14 via June 18 beneath the governor’s order to limit mass gatherings.
Playing income for the primary half of the yr – cash stored by the home after paying out winnings – totaled $487.5 million, simply half of the $970.9 million collected throughout the first six months of 2019. A couple of third of this cash is turned over to the state in charges and taxes.
The trade had been off to a document begin to the yr earlier than the closings.
The studies for June, nonetheless, present indicators that enterprise has been returning.
Regardless of simply getting restarted after the mid-point of the month, income of $76.7 million was slightly below half of what it was ($161.four million) for all the month of June a yr in the past.
Income on the 4 casinos was down 52% to $34 million for the month, the Ohio On line casino Management Fee reported. Income for the seven racinos fell 53% to $42.6 million, in line with the Ohio Lottery Fee.
Within the Cleveland-Akron market, nonetheless, the drop was greater for the 2 largest operations – JACK Cleveland On line casino and MGM Northfield Park:
* MGM Northfield Park had $eight.5 million in income for the partial month of June, down 59% from $20.eight million for the total month in 2019.
* JACK Cleveland On line casino had $6.6 million in June, down 62% from $17.6 million a yr in the past.
* JACK Thistledown Racino had $6.7 million June income, down 53% from $11.9 million.